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Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. TXNM Energy, Altria, and WEC Energy have rewarded shareholders for years and recently announced dividend increases. These companies currently offer dividend yields of up to 7%.
TXNM Energy
TXNM Energy (NYSE:TXNM) is a holding company that owns regulated utility companies providing energy to homes and businesses across Texas and New Mexico.
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TXNM has increased its dividends every year for the last 13 years. In its most recent dividend hike announcement on Dec. 3, its board raised the quarterly payout by 5.2% to $0.4075 per share, equal to an annual figure of $1.63 per share. The current dividend yield on the stock is 3.18%.
The company's annual revenue as of Dec. 31 stood at $1.97 billion. In its Q4 2024 earnings release on Feb. 21, the company posted revenues of $476.96 million, missing the consensus estimate of $496.05 million, while EPS of $0.30 matched expectations.
Altria
Altria Group (NYSE:MO) manufactures and sells smokeable and oral tobacco products in the U.S.
Altria Group has raised its dividends 59 times in the past 55 years. As per its most recent dividend hike announcement on Aug. 22, the company increased the quarterly payout by 4.1% to $1.02 per share, equaling an annual figure of $4.08 per share. The current dividend yield is 7.02%.
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Altria Group's annual revenue as of Dec. 31 stood at $20.44 billion. In its most recent earnings release on Jan. 30, the company posted Q4 2024 revenues of $5.97 billion and EPS of $1.29, both above the Street estimates.
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WEC Energy
WEC Energy Group (NYSE:WEC) provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the U.S.
The company has raised its dividends every year for the last 22 years. In its most recent dividend hike announcement on Jan. 16, it increased the quarterly payout by 6.90% to $0.8925 per share, which is equal to an annual figure of $3.57 per share. The dividend yield on the stock currently stands at 3.38%.