Why WEC Energy, Merck And Regions Financial Are Winners For Passive Income

Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. WEC Energy, Merck and Regions Financial have rewarded shareholders for decades and recently announced dividend increases. These companies currently offer dividend yields over 3%.

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WEC Energy

WEC Energy Group WEC provides regulated natural gas and electricity services, as well as renewable and nonregulated energy services across the U.S. 

WEC Energy has raised its dividends every year for the last 21 years. As per its most recent dividend hike announcement on Jan. 18, the company increased the quarterly dividend by 7% to $0.835 per share, equal to $3.34 annually. The dividend yield on the stock is currently 3.48%.

The company's annual revenue (as of Sept. 30) is $8.5 billion. According to its most recent earnings announcement on Oct. 31, it posted Q3 2024 revenues of $1.86 billion compared to the consensus estimate of $1.93 billion and an EPS of $0.82 compared to the consensus of $0.70. 

Check out this article by Benzinga which analyzes WEC Energy's short interest.

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Merck

Merck MRK is a health care company worldwide that makes pharmaceutical products to treat several conditions in many therapeutic areas, including cardiometabolic disease, cancer and infections. 

Merck has increased its dividends every year since 2011. On Nov. 28, 2023, in its most recent dividend announcement, the company's board of directors raised the quarterly dividend from $0.73 to $0.77 per share, equal to an annual figure of $3.08. The dividend yield on the stock currently stands at 3.06%. 

The company’s annual revenue (as of June 30) stood at $62.5 billion. According to Merck’s most recent earnings release on Oct. 31, it generated revenues of $16.66 billion and an EPS of $1.57 in Q3 2024. Both figures came in above the consensus estimates.

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Regions Financial

Regions Financial RF is a regional bank headquartered in Alabama with branches primarily in the Southeastern and Midwestern United States. Regions primarily provides traditional commercial and retail banking and offers mortgage services, asset management, wealth management, securities brokerage and trust services.

Regions Financial has increased its dividends consecutively for the last 12 years. According to its most recent dividend announcement on July 17, the company's board of directors raised the quarterly dividend from $0.24 to $0.25 per share, equal to an annual figure of $1 per share. Currently, the company's dividend yield stands at 3.80%.

Regions Financial's annual revenue (as of Sept. 30) is $7.1 billion. According to the company’s most recent earnings announcement on Oct. 18, it posted Q3 2024 revenues of $1.87 billion and EPS of $0.57. Both figures beat the consensus estimates.

Check out this article by Benzinga for 12 analysts' insights on Regions Financial's stock.

WEC Energy, Merck and Regions Financial are good choices for investors seeking reliable passive income. Their dividend yields of over 3% and long history of consistent hikes make them attractive to income-focused investors.

Better Yields Than Some REITs?

The current interest rate environment has created an incredible opportunity for income-seeking investors to earn massive yields, but not through publicly-traded REITs.

Arrived Homes, the Jeff Bezos-backed investment platform, has launched its Private Credit Fund, which provides access to a pool of short-term loans backed by residential real estate with a target 7% to 9% net annual yield paid to investors monthly. It paid 8.1% in August. The best part? Due to high demand the maximum investment amount is currently $5,000 with a minimum investment of ONLY $100.

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