3 Dependable Energy Stocks With 10+ Years Of Consecutive Dividend Increases

Energy stocks with a history of consistent dividend payouts can be a solid choice for investors looking for a reliable source of passive income. Here, we highlight three such companies: Chevron, Exxon Mobil, and Phillips 66, each known for their strong dividend growth and robust financial performance.

Chevron 

Chevron Corporation CVX operates through its Upstream and Downstream segments, engaging in comprehensive energy and chemical operations worldwide. The Upstream segment focuses on the exploration, production, and transportation of crude oil and natural gas. Meanwhile, the Downstream segment refines crude oil into various petroleum products, markets fuels and lubricants, and produces renewable fuels and petrochemicals. 

Chevron has a notable record of raising its dividend for 36 consecutive years. In February, it increased its quarterly dividend by 7.9% to $1.63 per share, or $6.52 annually, yielding 4.27%. 

Over the last twelve months, Chevron reported $192.7 billion in revenue and $20.2 billion in net income.

Exxon Mobil 

Exxon Mobil Corporation XOM is a global leader in the energy sector, involved in the exploration, production, and distribution of crude oil, natural gas, and a variety of petroleum products. 

Exxon Mobil has a strong history of dividend growth, having increased its dividend for 41 consecutive years. The company pays a quarterly dividend of $0.95 per share, or $3.80 annually, yielding 3.36%. 

Over the past twelve months, Exxon Mobil generated $335.3 billion in revenue and $32.8 billion in net income. 

Phillips 66 

Phillips 66 PSX operates as an energy manufacturing and logistics company with a global presence. Its business is divided into Midstream, Chemicals, Refining, and Marketing and Specialties segments. The Midstream segment manages the transportation and storage of crude oil and refined products. The Chemicals segment focuses on the production and marketing of petrochemicals. The Refining segment is responsible for processing crude oil into various petroleum products, while the Marketing and Specialties segment markets these products and manufactures specialty items. 

Phillips 66 has consistently raised its dividend for 12 consecutive years and has maintained payments for 13 years. In April, the company announced a 10% increase in its quarterly dividend to $1.15 per share, or $4.60 annually, yielding 3.34%. 

Over the last twelve months, Phillips 66 reported $148.8 billion in revenue and $5.8 billion in net income.

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For instance, the Ascent Income Fund from EquityMultiple targets stable income from senior commercial real estate debt positions and has a historical distribution yield of 12.1% backed by real assets. With payment priority and flexible liquidity options, the Ascent Income Fund is a cornerstone investment vehicle for income-focused investors. First-time investors with EquityMultiple can now invest in the Ascent Income Fund with a reduced minimum of just $5,000.

Don't miss out on this opportunity to take advantage of high-yield investments while rates are high. Check out Benzinga's favorite high-yield offerings. 

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