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. Avista, Prologis and Hormel Foods have rewarded their shareholders for several decades and recently announced dividend increases. Furthermore, these companies offer high dividend yields of around 3-5%.
Check It Out:
This billion-dollar fund has invested in the next big real estate boom, here's how you can join for $10. This is a paid advertisement. Carefully consider the investment objectives, risks, charges and expenses of the Fundrise Flagship Fund before investing. This and other information can be found in theFund's prospectus. Read them carefully before investing.
Avista Corporation (NYSE:AVA) is an energy company that produces, transmits and distributes energy, operating other energy-related businesses. Avista Utilities provides electric service to 415,000 customers and natural gas to 378,000 customers.
According to the company's most recent dividend hike announcement on Feb. 7, its Board of Directors increased the quarterly dividend from $0.46 to $0.475 per share, equaling $1.90 annually. Currently, Avista’s dividend yield is 5%.
"The dividend increase approved by the board of directors marks the twenty-second consecutive year the board has raised the dividend for our shareholders. I believe it demonstrates the board's commitment to maximizing shareholder value," said Avista Chief Executive Officer Dennis Vermillion.
Avista’s annual revenue (as of June 30) is $1.9 billion. According to the company's most recent earnings report, released on Aug. 7, it posted Q2 2024 revenues of $390.81 million and an EPS of $0.29, both above Street estimates.
"Our financial results demonstrate the strength of our core utility operations, as our second-quarter utility earnings aligned with our expectations. At Avista Utilities, the investments we’ve made in our grid ensured our system’s strong, stable performance during the recent heat wave in the West,” said Vermillion.
Prologis
Prologis, Inc. (NYSE:PLD) is the global leader in logistics real estate, focusing on high-barrier, high-growth markets. Formed by the June 2011 merger of AMB Property and Prologis Trust, the company develops, acquires and operates around 1.2 billion square feet of industrial and logistics facilities worldwide.
Prologis has increased its dividends every year for the last 10 years. On Feb. 23, it announced its most recent dividend hike, raising the quarterly dividend by 10% to $0.96 per share, equal to $3.84 annually. Currently, the company’s dividend yield stands at 3.09%.
Prologis’ annual revenue (as of June 30) is $7.8 billion. According to the company's most recent earnings report, it posted Q2 2024 revenues of $1.85 billion, compared to the consensus estimate of $1.87 billion and an EPS of $1.34, compared to the consensus of $1.33.
“We continue to outperform the industry, driven by our team and the quality of our assets,” said Hamid R. Moghadam, co-founder and CEO of Prologis. “While customer demand remains subdued, it is improving and we expect that trend to continue as the construction pipeline shrinks. Meanwhile, our premier global portfolio will continue to benefit from its embedded NOI potential and opportunities in data centers and energy give us tremendous confidence in future growth.”
Check out this article by Benzinga to learn how much a $1000 invested in Prologis stock 10 years ago would be worth today.
Trending: A billion-dollar investment strategy with minimums as low as $10 —you can become part of the next big real estate boom today. This is a paid advertisement. Carefully consider the investment objectives, risks, charges and expenses of the Fundrise Flagship Fund before investing. This and other information can be found in theFund's prospectus. Read them carefully before investing.
Hormel Foods
Hormel Foods Corporation (NYSE:HRL) develops, processes and distributes various meat, nuts and other food products to retail, food service, deli and commercial customers.
Hormel Foods has raised its dividends every year for the last 58 years. According to its most recent dividend hike announcement on Nov. 20, 2023, its Board of Directors increased the quarterly dividend by 3% to $0.2825 per share or $1.13 annualized, with a yield of 3.58%.
As of July 31, Hormel Foods' annual revenue stood at $12 billion. According to the company's most recent earnings release on Sept. 4, it posted Q3 2024 revenues of $2.90 billion, compared to the consensus estimate of $2.95 billion and an EPS of $0.37, compared to the consensus of $0.36.
Avista, Prologis and Hormel Foods are good choices for investors seeking reliable passive income. Their dividend yields of around 3-5% and long history of consistent hikes make them attractive to income-focused investors.
Check out this article by Benzinga for three more stocks that offer solid dividend yields.
