Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Essential Utilities, Portland General Electric, and Independent Bank have rewarded shareholders for years and recently announced dividend increases. These companies currently offer dividend yields of around 3% to 4%.
Essential Utilities
Essential Utilities (NYSE:WTRG) operates regulated utilities that provide water, wastewater, and natural gas services in the U.S.
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Essential Utilities has increased its dividends every year for the last 33 years. In its most recent dividend hike announcement on July 31, the company raised the quarterly payout by 6% to $0.3255 per share, equaling an annual figure of $1.302 per share. The dividend yield on the stock is 3.28%.
The company's annual revenue as of Dec. 31 stood at $2.09 billion. According to its Q4 2024 earnings release on Feb. 26, the company posted revenues of $604.38 million and EPS of $0.67. Both figures came in above the Street estimates.
Check out this article by Benzinga for four analysts’ insights on Essential Utilities.
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Portland General Electric
Portland General Electric (NYSE:POR), an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon.
Portland General Electric has raised its dividends consecutively for the last 19 years. In its most recent dividend hike announcement last April 19, the company increased the quarterly payout by 5.3% to $0.50 per share, equal to $2 per share annually. The company confirmed on Feb. 12 that the payout would remain the same. The current dividend yield on the stock stands at 4.49%.
The company's annual revenue as of Dec. 31 stood at $3.44 billion. As per its most recent earnings release on Feb. 14, it posted Q4 2024 revenues of $837 million and EPS of $0.36, both above the Street estimates.
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Independent Bank
Independent Bank (NASDAQ:INDB) operates as the bank holding company for Rockland Trust Company that provides commercial banking products and services to individuals and small-to-medium sized businesses in the U.S.
Independent Bank has raised its dividends every year for the last 14 years. In its most recent dividend hike announcement on March 21, 2024, its board increased the quarterly payout from $0.55 to $0.57 per share or $2.28 annualized. More recently, in its dividend announcement on Dec. 12, the company maintained the payout at the same level. The dividend yield is 3.58%.
Independent Bank’s annual revenue as of Dec. 31 is $683.11 million. In its most recent earnings release on Jan. 16, the company posted Q4 2024 revenues of $176.85 million and EPS of $1.21. Both figures beat the consensus estimates.
Check out this article by Benzinga for four analysts’ insights on Independent Bank.
Essential Utilities, Portland General Electric, and Independent Bank 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.
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This article How Essential Utilities, Portland General Electric, And Independent Bank Can Put Cash In Your Pocket originally appeared on Benzinga.com
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