How Morgan Stanley, Hess Midstream And Clorox Can Put Cash In Your Pocket

Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Morgan Stanley, Hess Midstream and Clorox have rewarded their shareholders for several decades and recently announced dividend increases. Furthermore, these companies offer high dividend yields of up to 7%.

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Morgan Stanley

Morgan Stanley MS is a financial holding company that provides various financial products and services to corporations, governments, financial institutions and individuals globally. 

The company has consistently increased its dividends for the last 10 years. As per its most recent dividend announcement on June 28, it raised the quarterly dividend by 7.5% to $0.925 per share, equaling an annual figure of $3.70. Currently, the dividend yield on the stock is 3.13%.

In addition, the board reauthorized a multiyear common equity share repurchase program of up to $20 billion, beginning in the third quarter of 2024, without a set expiration date.

Morgan Stanley's annual revenue (as of June 30) is $52.7 billion. According to its most recent earnings announcement on Oct. 16, the company posted Q3 2024 EPS of $1.88 and revenues of $15.38 billion. Both figures came in better than the Street estimates.

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"The Firm reported a strong third quarter in a constructive environment across our global footprint. Institutional Securities saw market momentum and underwriting businesses on solid client engagement. Total client assets have surpassed $7.5 trillion across Wealth and Investment Management, supported by buoyant equity markets and net asset inflows. Our business model is delivering strong returns while accreting capital, producing an ROTCE of 18.2% through the first three quarters of 2024," mentioned CEO Ted Pick.

Morgan Stanley analysts are optimistic after the Q3 report. Check out this article by Benzinga to learn more.

Hess Midstream 

Hess Midstream LP HESM owns, operates, develops and acquires a diverse set of midstream assets and provides fee-based services to Hess and third-party customers. It conducts its business through three operating segments: gathering, processing, storage and terminating and exporting. 

Hess Midstream has increased dividends every year since 2017. According to its most recent dividend announcement on July 29, the company raised the quarterly dividend from $0.6516 to $0.6677, equal to $2.67 annually. Currently, the dividend yield on the stock is 7.53%. 

Hess Midstream's annual revenue (as of June 30) stood at $1.4 billion. According to the company's most recent earnings release on July 31, it posted Q2 2024 revenues of $365.50 million, above the consensus of $365.16 million, while EPS of $0.59 missed the consensus estimate of $0.63.

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Clorox

The Clorox Company CLX manufactures and markets consumer and professional products worldwide. Since its inception more than 100 years ago, Clorox has grown to play in various consumer product categories, including cleaning supplies, laundry care, trash bags, cat litter, charcoal, food dressings, water-filtration products and natural personal care products.

The company has increased its dividends every year for the last 22 years. As per its most recent dividend hike announcement on July 30, Clorox raised the quarterly dividend from $1.20 to $1.22 per share, equaling $4.88 annually. Currently, the dividend yield stands at 3.07%.

The company’s annual revenue (as of June 30) stood at $7.1 billion. According to its most recent earnings release on Aug. 1, it posted Q4 2024 revenues of $1.90 billion, compared to the consensus estimate of $1.96 billion and EPS of $1.82, compared to the consensus of $1.57.

Check out this article by Benzinga, which deep dives into Clorox’s price over earnings.

Morgan Stanley, Hess Midstream and Clorox are good choices for investors seeking reliable passive income. Their dividend yields of up to 7% and long history of consistent hikes make them attractive to income-focused investors.

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