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Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Chevron, Essential Utilities, and Horace Mann Educators have rewarded shareholders for years and recently announced dividend increases. These companies currently offer dividend yields of around 3% to 5%.

Chevron

Chevron Corp. (NYSE:CVX) is an integrated energy company that produces crude oil, natural gas, and other essential products in the U.S. and internationally.

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Chevron has increased its dividends consecutively for the last 38 years. In its latest dividend hike announcement on Jan. 31, the board raised the quarterly payout by 5% to $1.71 per share, equal to an annual figure of $6.84 per share. More recently, in its quarterly earnings release on May 2, the company maintained the payout at the same level. Currently, the dividend yield on the stock is 5.03%.

The company’s annual revenue as of March 31 stood at $192.94 billion. In its Q1 2025 earnings report on May 2, it posted revenues of $47.61 billion, missing the consensus estimate of $48.08 billion, while EPS of $2.18 matched expectations.

Check out this article by Benzinga, which analyzes the surge in Chevron's options activity.

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Essential Utilities

Essential Utilities Inc. (NYSE:WTRG) operates regulated utilities that provide water, wastewater, and natural gas services in the U.S.

Essential Utilities has increased its dividends every year for the last 33 years. In its most recent dividend hike announcement on July 31, it raised the quarterly payout by 6% to $0.3255 per share, equaling an annual figure of $1.302 per share. More recently, in its dividend announcement on Feb. 19, the company maintained the payout at the same level. The dividend yield on the stock is 3.42%.

The company's annual revenue as of March 31 stood at $2.26 billion. In its Q1 2025 earnings report on May 12, the company posted revenues of $783.63 million and EPS of $1.03, both beating the consensus estimates.

How is the market feeling about Essential Utilities? Check out this article by Benzinga to learn more.

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Horace Mann Educators

Horace Mann Educators Corp. (NYSE:HMN) is an insurance holding company, offering products primarily to educators and other employees of public schools and their families in the U.S.