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Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. WEC Energy, Fifth Third Bancorp and Merck have rewarded shareholders for years and recently announced dividend increases. These companies currently offer dividend yields of over 3%.

WEC Energy

WEC Energy Group, Inc. (NYSE:WEC) provides regulated natural gas and electricity services, as well as renewable and nonregulated energy services across the U.S.

The company has increased its dividends consecutively for the last 22 years. In its most recent dividend hike announcement on Jan. 16, it raised the quarterly dividend by 6.90% to $0.8925 per share, equal to an annual figure of $3.57 per share. The dividend yield on the stock currently stands at 3.74%.

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WEC Energy Group's annual revenue (as of Sept. 30) stood at $8.53 billion. According to its most recent earnings release on Oct. 31, it posted Q3 2024 revenues of $1.86 billion, missing the consensus of $1.93 billion, while the EPS of $0.82 came in better than the consensus estimate of $0.70.

Check out this article by Benzinga for nine analysts' insights on WEC Energy Group.

Fifth Third Bancorp

Fifth Third Bancorp (NASDAQ:FITB) is a diversified financial services company with over $200 billion in assets and numerous full-service banking branches and ATMs throughout Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina.

The company has raised its dividends every year for the last nine years. According to its most recent dividend hike announcement on Sept. 12, it increased the quarterly dividend by 6% to $0.37 per share, equal to $1.48 per share annually. Currently, the dividend yield on the stock is 3.36%.

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Fifth Third Bancorp's annual revenue (as of Sept. 30) stood at $8.17 billion. In its most recent earnings release on Oct. 18, the company said it generated Q3 2024 revenues of $2.14 billion, compared to the consensus of $2.16 billion and an EPS of $0.85, compared to the consensus estimate of $0.83.