Why Stanley Black & Decker, AES, And NiSource Are Winners For Passive Income

Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Stanley Black & Decker, AES, and NiSource have rewarded their shareholders for several decades and announced dividend increases not long ago. Furthermore, these companies offer high dividend yields of around 3-4%

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Stanley Black & Decker

Stanley Black & Decker, Inc. SWK is a worldwide leader in Tools and Outdoor, operating manufacturing facilities globally. The company’s approximately 50,000 diverse and high-performing employees produce innovative end-user-inspired power tools, hand tools, storage, digital jobsite solutions, outdoor and lifestyle products, and engineered fasteners to support the world’s builders, tradespeople and DIYers.

Stanley Black & Decker has consistently raised its dividends every year since 1968. According to the company's most recent dividend announcement on July 25, its Board of Directors increased the quarterly dividend from $0.81 to $0.82 per share, equating to $3.28 annually. The current yield on the dividend stands at 3.28%.

The company's annual revenue (as of June 30) is $15.6 billion. As per its most recent earnings release on July 30, it generated Q2 2024 revenues of $4.02 billion, meeting the consensus estimate and an EPS of $1.09, beating the consensus of $0.84.

Donald Allan Jr., Stanley Black & Decker’s President & CEO, commented, “We extended our trajectory of solid execution on our operational priorities, which drove gross margin improvement versus the prior year and strong cash generation in the second quarter. Strength in DEWALT, outdoor and aerospace fasteners combined to yield organic growth* amid a weak consumer backdrop.

Here’s how to earn $100 in passive income by investing in Stanley Black & Decker stock.

The AES Corporation

The AES Corporation AES is a diversified power generation and utility company in the United States and internationally.

AES has increased its dividends consecutively since 2014. In its most recent dividend hike announcement on Dec. 8, 2023, it raised the quarterly dividend from $0.1659 to $0.1725 per share, equaling $0.69 annually. Currently, the company's dividend yield is 4.03%.

AES' annual revenue (as of June 30) is $12.4 billion. According to the company’s Q2 2024 earnings report, announced on Aug. 1, it posted revenues of $2.94 billion, missing the consensus of $3.19 billion, while EPS of $0.38 came in better than the consensus of $0.37.

Check out this article by Benzinga, which analyzes AES’s short interest.

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NiSource

NiSource Inc. NI is one of the nation’s largest natural gas distribution companies, with approximately 3.2 million customers in Indiana, Kentucky, Maryland, Ohio, Pennsylvania, and Virginia. NiSource’s electric utility transmits and distributes electricity in northern Indiana to about 500,000 customers.

NiSource has raised its dividends every year for the last eight years. On Jan. 26, the company's most recent dividend hike announcement, its Board of Directors raised the quarterly dividend from $0.25 to $0.265 per share, or $1.06 annualized, with a yield of 3.19%.

As of June 30, the company's annual revenue stood at $5.2 billion. According to the company's most recent earnings report, issued on Aug. 7, it generated revenues of $1.10 billion, missing the expected $1.13 billion, and EPS of $0.21, beating the consensus estimate of $0.13.

“During the second quarter, NiSource placed the Cavalry Solar & Storage project into service and reported strong earnings results, executing our investment plan and delivering consistent shareholder returns," said NiSource President and CEO Lloyd Yates.

Stanley Black & Decker, AES, and NiSource are solid options for investors seeking reliable passive income. Their offered yields of around 3-4% and their long history of consistent dividend hikes make them particularly attractive to income-focused investors.

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