Why Southern, Chevron, And Open Text Are Winners For Passive Income
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.
Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Southern, Chevron, and Open Text have rewarded shareholders for years and recently announced dividend increases. These companies currently offer dividend yields of around 3-4%.
The Southern Company
Southern Company (NYSE:SO) generates, transmits and distributes electricity. Incorporated in 1945 and headquartered in Atlanta, it is one of the largest utilities in the U.S. It serves 9 million customers with vertically integrated electric utilities in three states and natural-gas distribution utilities in four states.
Southern has increased its dividends consecutively for the last 23 years. As per its most recent dividend hike announcement on April 22, the company raised the quarterly dividend from $0.70 to $0.72, equal to an annual figure of $2.88 per share. Currently, the dividend yield on the stock is 3.41%.
Southern’s annual revenue as of Sept. 30 stood at $26.43 billion. In its most recent earnings release on Oct. 31, the company posted Q3 2024 revenues of $7.27 billion, below the consensus estimate of $7.29 billion, while EPS of $1.43 beat the consensus of $1.34.
How to earn $100 per month from the Southern stock? Check out this article by Benzinga to learn more.
Chevron Corporation (NYSE:CVX) is one of the leading integrated energy companies. It is involved in upstream and downstream operations. The Upstream segment explores, produces and transports crude oil and natural gas, while the Downstream segment refines crude oil into petroleum products and manufactures renewable fuels and petrochemicals.
Chevron has raised its dividends every year for the last 37 years. In its latest dividend hike announcement on Jan. 31, the company increased the quarterly dividend by 5% to $1.71 per share, equal to an annual figure of $6.84 per share. The dividend yield on the stock currently stands at 4.48%.
The company's annual revenue as of Sept. 30 stood at $194.01 billion. In its Q4 2024 earnings release on Jan. 31, it generated revenues of $52.23 billion, beating the consensus estimate of $48.41, while EPS of $2.06 came in below the consensus of $2.11.
Check out this article by Benzinga to learn how much would it take to earn $100 a month from Chevron stock.
Open Text Corporation (NASDAQ:OTEX) provides information management products and services. The company offers content services, including content collaboration, intelligent capture, records management, collaboration, e-signatures and archiving.
Open Text has raised its dividend every year for the last 11 years. As per its most recent dividend hike announcement on July 31, the company increased the quarterly dividend by 5% to $0.2625 per share, which is equal to an annual figure of $1.05 per share. The dividend yield on the stock currently stands at 3.77%.
The company's annual revenue as of Sept. 30 stood at $5.61 billion. On Feb. 6, the company reported its Q2 2025 earnings, posting revenues of $1.33 billion and EPS of $1.11. Both figures came in above the consensus estimate.
Southern, Chevron, and Open Text are good choices for investors seeking reliable passive income. Their dividend yields of around 3% to 4% and long history of consistent hikes make them attractive to income-focused investors.
Looking For Higher-Yield Opportunities In A Shifting Market?
The changing interest rate environment has created an incredible opportunity for income-seeking investors to earn massive yields, but not through dividend stocks... Certain private market real estate investments are giving retail investors the opportunity to capitalize on these high-yield opportunities and Benzinga has identified some of the most attractive options for you to consider.
For instance, the Ascent Income Fund from EquityMultiple targets stable income from senior commercial real estate debt positions and has a historical distribution yield of 12.1% backed by real assets. With payment priority and flexible liquidity options, the Ascent Income Fund is a cornerstone investment vehicle for income-focused investors. First-time investors with EquityMultiple can now invest in the Ascent Income Fund with a reduced minimum of just $5,000. Benzinga Readers: Earn a 1% return boost on your first EquityMultiple investment when you sign up here (accredited investors only).
