Gilead Sciences, Verizon Communications And ManpowerGroup Are Winners For Passive Income

Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Gilead Sciences, Verizon Communications and ManpowerGroup have rewarded their shareholders for several decades and recently announced dividend increases. Furthermore, these companies offer high dividend yields of around 3-6%.

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Gilead Sciences

Gilead Sciences, Inc. GILD develops and markets therapies to treat life-threatening infectious diseases. The core of its portfolio is focused on HIV and hepatitis B and C. 

Gilead Sciences has raised its dividends every year for the last eight years. According to the company's most recent dividend hike announcement on Feb. 6, 2024, it raised its quarterly dividend by 2.7% to $0.77 or $3.08 annualized. The current dividend yield on the stock is 3.67%.

As of June 30, the company’s annual revenue stood at $27.8 billion. In its most recent earnings announcement on Aug. 8, the company posted Q2 2024 revenues of $6.95 billion and EPS of $2.01, above Street estimates.

Check out this article by Benzinga to learn what the options market tells about Gilead Sciences.

Verizon Communications

Verizon Communications Inc. VZ provides communications, technology, information and entertainment products and services to consumers, businesses and governmental entities worldwide. The firm serves about 93 million postpaid and 21 million prepaid phone customers (following the acquisition of Tracfone) via its nationwide network, making it the largest U.S. wireless carrier. 

The company has consistently hiked its dividends every year since 2005. According to its most recent dividend announcement on Sept. 4, the company raised its quarterly dividend from $0.665 to $0.6775 per share, equating to $2.71 annually. The current yield on the dividend is 6.17%.

The company’s annual revenue (as of June 30, 2024) is $134.2 billion. According to the company’s most recent earnings report on July 22, it posted Q2 2024 revenues of $32.80 billion, missing the consensus estimate of $33.06 billion and an EPS of $1.15, in line with expectations. 

Check out this article by Benzinga for five analysts' insights on Verizon stock.

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ManpowerGroup

ManpowerGroup Inc. MAN provides workforce solutions and services. These include recruitment and assessment, upskilling, reskilling, training and development, career Management, outsourcing and workforce consulting. 

The company has increased its dividend every year for the past 14 years. In its most recent dividend announcement on May 3, the company raised its semiannual dividend from $1.47 to $1.54 per share, equal to $3.08 annually. The current yield on the dividend stands at 4.10%.

As of June 30, the company’s annual revenue stood at $18.2 billion. According to its most recent earnings announcement on July 18, ManpowerGroup posted Q2 2024 revenues of $4.52 billion and EPS of $1.30. Both figures were above Street estimates. 

Gilead Sciences, Verizon Communications and ManpowerGroup are good choices for investors seeking reliable passive income. Their dividend yields of around 3-6% and long history of consistent hikes make them attractive to income-focused investors.

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