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Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Virtus Investment Partners, Trinity Industries and Independent Bank have rewarded their shareholders for several decades and recently announced dividend increases. Furthermore, these companies offer high dividend yields of around 3-4%.
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Virtus Investment Partners, Inc. (NYSE:VRTS) provides investment management and related services to individuals and institutions. Its retail products include open-end mutual funds, closed-end funds, exchange-traded funds and variable insurance funds.
The company has consistently raised its dividends every year since 2018. Virtus Investment Partners’ most recent dividend announcement on Aug. 15 increased the quarterly dividend by 18% to $2.25 per share, equal to $9 annually. The current yield on the dividend is 4.41%.
The company’s annual revenue (as of June 30) is $876.6 million. According to the company's most recent earnings announcement on July 26, it posted Q2 2024 revenues of $224.38 million, beating the consensus of $205.53 million, while the EPS of $6.53 missed the consensus estimate of $6.61.
Check out this article by Benzinga for four analysts' insights on Virtus Investment Partners.
Trinity Industries
Trinity Industries, Inc. (NYSE:TRN) provides rail transportation products and services under the TrinityRail name in North America. It operates in three main segments: railcar leasing and management services, which owns railcars and provides fleet management and administration services; rail products, which builds, sells and modifies freight and tank railcars and their components; and all other, which sells highway products such as guardrail and other highway barriers.
The company has increased its dividends consecutively since 2011. In its most recent dividend hike announcement on Dec. 6, 2023, its Board of Directors increased the quarterly dividend from $0.26 to $0.28 per share, equaling $1.12 annually. Currently, the company’s dividend yield is 3.29%.
Trinity Industries’ annual revenue (as of June 30) is $3.3 billion. According to the company's Q2 2024 earnings report, released on Aug. 1, it posted revenues of $841.40 million and EPS of $0.66. Both figures came in above the consensus estimates.
"We are encouraged by our second-quarter results and believe they demonstrate the momentum of our operating platform. We are once again raising our full-year guidance to a range of $1.55 to $1.75, which implies continued strength in operating margins through the balance of 2024," said Trinity's Chief Executive Officer and President, Jean Savage.
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Independent Bank
Independent Bank Corp. (NASDAQ:INDB) is a bank holding company and the sole shareholder of its bank, the Rockland Trust Company. Rockland is a community-oriented commercial bank. The bank provides a variety of banking, investment and financial services, operating with various retail branches, as well as a network of commercial and residential lending centers and investment management offices, mainly in Eastern Massachusetts, Worcester County and Rhode Island.
Independent Bank has increased its dividends every year for the last 13 years. On March 21, the company's most recent dividend announcement, its Board of Directors raised the quarterly dividend from $0.55 to $0.57 per share or $2.28 annualized, with a yield of 3.87%.
As of June 30, Independent Bank's annual revenue was $689.5 million. According to the company's most recent earnings announcement on July 18, the company posted Q2 2024 revenues of $170.26 million and an EPS of $1.21, above consensus estimates.
"Our second-quarter results reflect positive momentum in all core components that drive the Company's financial performance. Despite persistent uncertainty in the broader macroeconomic environment, our colleagues' steadfast focus on each relationship remains the backbone of our success," said Jeffrey Tengel, the Chief Executive Officer of Independent Bank Corp. and Rockland Trust Company.
Check out this article by Benzinga for five analysts' insights on Independent Bank.
Virtus Investment Partners, Trinity Industries and Independent Bank are good choices for investors seeking reliable passive income. Their dividend yields of around 3-4% and long history of consistent hikes make them attractive to income-focused investors.
Interest Rates Are Falling, But These Yields Aren't Going Anywhere
Lower interest rates mean some investments won't yield what they did in months past, but you don't have to lose those gains. 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.
Arrived Homes, the Jeff Bezos-backed investment platform, offers a Private Credit Fund. This fund provides access to a pool of short-term loans backed by residential real estate with a target of 7% to 9% net annual yield paid to investors monthly. The best part? Unlike other private credit funds, this one has a minimum investment of only $100.
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