Why Alliant Energy, Virtus Investment Partners And Evergy Are Winners For Passive Income

Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Alliant Energy, Virtus Investment Partners and Evergy have rewarded shareholders for decades and recently announced dividend increases. These companies currently offer dividend yields around 3-4%.

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Alliant Energy

Alliant Energy LNT is the parent of two regulated utilities, Interstate Power and Light and Wisconsin Power and Light. These subsidiaries serve nearly one million electric customers and 425,000 natural gas-only customers. Both subsidiaries generate and distribute electricity and natural gas. Alliant also owns a 16% interest in American Transmission Co.

Alliant Energy has raised its dividends every year since 2017. The company's most recent dividend hike announcement on Jan. 12 increased the quarterly dividend from $0.45 to $0.48 per share, totaling $1.92 annually. Currently, the dividend yield on the stock stands at 3.32%.

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Alliant Energy’s annual revenue (as of Sept. 30) is $4 billion. In its Q3 2024 earnings report, released on Oct. 31, it posted revenues of $1.08 billion and an EPS of $1.15, both above Street estimates.

"We anticipate we will be able to offset most of the 2024 negative temperature impacts on earnings, as reflected in our 2024 revised earnings guidance. The introduction of our 2025 earnings guidance and reiteration of our long-term earnings growth range of 5% to 7% reinforces the company’s consistent performance and predictable long-term growth," said Lisa Barton, Alliant Energy President and CEO.

Check out this article by Benzinga, which looks into Alliant Energy’s recent short interest.

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Virtus Investment Partners

Virtus Investment Partners, Inc. VRTS provides investment management and related services to individuals and institutions. Its retail products include open-end mutual funds, closed-end funds, exchange-traded funds (ETFs) and variable insurance funds. 

The company has consistently raised its dividends yearly for the past six years. As per its most recent dividend announcement on Aug. 15, its board of directors raised the quarterly dividend by 18% to $2.25 per share, totaling $9 annually. The current dividend yield on the stock stands at 3.80%.

The company's annual revenue (as of June 30) is $876.6 million. In its most recent earnings, released on Oct. 25, it posted Q3 2024 revenues of $227.03 million and an EPS of $6.92. Both figures were above consensus estimates. 

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Evergy

Evergy, Inc. EVRG is a regulated electric utility serving eastern Kansas and Western Missouri. It is also one of the largest wind energy suppliers in the U.S. The utility has a combined rate base of approximately $19 billion, about half in Kansas and the rest split between Missouri and federal jurisdiction. 

The company has raised its dividends every year for the last 20 years. According to Evergy’s most recent dividend hike announcement on Nov. 7, 2024, it raised the quarterly dividend by 4% to $0.6675 per share, totaling $2.67 annually. Currently, the dividend yield on the stock stands at 4.27%.

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Evergy's annual revenue (as of Sept. 30) is $5.8 billion. In its Q3 2024 earnings announcement on Nov. 7, it generated revenues of $1.81 billion, compared to the consensus estimate of $2.15 billion and an EPS of $2.02, compared to the consensus of $1.93.

Alliant Energy, Virtus Investment Partners and Evergy are good choices for investors seeking reliable passive income. Their dividend yields around 3-4% and long history of consistent hikes make them attractive to income-focused investors.

Check out this article by Benzinga for three more stocks offering high dividend yields. 

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