How Chevron, ManpowerGroup And Peoples Bancorp Can Put Cash In Your Pocket
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Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Chevron, ManpowerGroup and Peoples Bancorp have rewarded their shareholders for several decades and recently announced dividend increases. Furthermore, these companies offer around 4-5% dividend yields.
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 consistently increased its dividends for the last 37 years. On Feb. 2, the company's board of directors announced its most recent dividend hike, raising the quarterly dividend by 8% to $1.63 per share, equal to an annual figure of $6.52. The current yield on the dividend stands at 4.23%.
Chevron's annual revenue (as of June 30) is $197 billion. As per its most recent earnings announcement on Nov. 1, the company posted revenues of $50.67 billion and EPS of $2.51 for Q3 2024. Both figures came in above the Street estimates.
"We delivered strong financial and operational results, started up key projects in the U.S. Gulf of Mexico and returned record cash to shareholders this quarter," said Chevron's chairman and chief executive officer Mike Wirth. Worldwide net oil-equivalent production increased 7% from last year, with U.S. and Permian Basin production setting another quarterly record. Chevron started up key projects in Anchor, Jack/St. Malo and Tahiti fields this quarter."
Check out this article by Benzinga, which deep dives into Chevron’s options frenzy.
ManpowerGroup (NYSE:MAN) provides workforce solutions and services, including recruitment, assessment, upskilling, reskilling, training, development, career Management, outsourcing and workforce consulting.
ManpowerGroup has increased its dividend consistently for the last 14 years. According to its most recent dividend hike announcement on May 3, the company raised its semiannual dividend from $1.47 to $1.54 per share or $3.08 annually. The current yield on the dividend is 4.85%.
The company's annual revenue (as of June 30) stood at $18.2 billion. According to its most recent earnings release on Oct. 17, the company posted Q3 2024 revenues of $4.53 billion, above the consensus estimate of $4.50 billion and an EPS of $1.29, matching expectations.
Peoples Bancorp
Peoples Bancorp (NASDAQ:PEBO) is the holding company for Peoples Bank, which provides commercial and consumer banking products and services.
Peoples Bancorp has increased its dividends every year for the last nine years. On April 23, the company announced its most recent dividend hike, increasing its quarterly dividend from $0.39 to $0.40 per share, or $1.60 annualized. The dividend yield on the stock currently stands at 5.29%.
As of Sept. 30, the company's annual revenue was $442.4 million. According to the company's most recent earnings announcement on Oct. 22, it generated revenues of $114.89 million and an EPS of $0.89 in Q3 2024, above consensus estimates.
“We are very pleased with our results for the first nine months 2024. We saw core improvements in deposit growth, net interest margin and fee-based income,” said Tyler Wilcox, President and Chief Executive Officer. “Our total stockholders’ equity to total assets ratio improved to 12.31% from 11.68% and our tangible equity to tangible assets ratio improved to 8.25% from 7.61% in the prior quarter. We continue to focus on driving shareholder value through consistent financial performance.”
Chevron, ManpowerGroup and Peoples Bancorp are good choices for investors seeking reliable passive income. Their dividend yields of around 4-5% and long history of consistent hikes make them attractive to income-focused investors.
Check out this article by Benzinga for three more stocks offering solid dividend yields.
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