Why Altria, LCI Industries And S&T Bancorp Are Winners For Passive Income

Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Altria, LCI Industries and S&T Bancorp have rewarded shareholders for decades and recently announced dividend increases. These companies currently offer dividend yields of around 3-7%.

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Altria

Altria Group MO manufactures and sells smokeable and oral tobacco products, maintaining the leading position in cigarettes and smokeless tobacco in the U.S. and the number-two spot in machine-made cigars. 

According to its most recent dividend announcement on Aug. 22, its board of directors raised the quarterly dividend by 4.10% to $1.02 per share, equal to an annualized rate of $4.08 per share. 

“Today’s dividend increase is consistent with our progressive dividend goal that targets mid-single digits dividend per share growth annually through 2028. This increase marks the 59th dividend increase in the past 55 years,” mentioned in the company's announcement. The dividend yield on the stock currently stands at 7.24%.

Altria Group's annual revenue (as of Sept. 30) was $20.4 billion. As per its most recent earnings release on Oct. 31, it posted revenues of $5.54 billion and an EPS of $1.38 for Q3 2024. Both figures came in above the consensus estimates. 

Check out this article by Benzinga to learn how to earn $100 monthly from Altria stock.

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LCI Industries

LCI Industries LCII supplies domestic and international components for the original equipment manufacturers of recreational vehicles and adjacent industries, including buses and trailers for hauling boats, livestock, equipment and other cargo. 

It has consistently increased dividends every year since 2016. In its most recent dividend announcement on Nov. 14, LCI Industries raised the quarterly dividend from $1.05 to $1.15 per share, equal to an annual figure of $4.60. The current yield on the dividend is 4.02%.

LCI Industries' annual revenue (as of Sept. 30) stood at $3.80 billion. As per its most recent earnings release on Nov. 7, it posted an EPS of $1.39 and revenues of $915.50 million for Q3 2024. While the EPS came in above the consensus estimates, revenues missed expectations. 

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S&T Bancorp

S&T Bancorp, Inc. STBA is a bank holding company that operates in five markets: western Pennsylvania, Eastern Pennsylvania, Northeast Ohio, Central Ohio and upstate New York.

S&T Bancorp's has consistently raised its dividends for the last 12 years. As per the company's most recent dividend announcement on Oct. 23, it increased the quarterly dividend from $0.33 to $0.34 per share, equaling an annual figure of $1.36. The current dividend yield on the stock stands at 3.23%.

S&T Bancorp's annual revenue (as of Sept. 30) was $392.7 million. According to its Q3 2024 earnings release on Oct. 17, the company posted revenues of $96.35 million compared to the consensus estimate of $98.89 million and an EPS of $0.85 compared to the consensus of $0.81. 

Altria, LCI Industries and S&T Bancorp are good choices for investors seeking reliable passive income. Their dividend yields of around 3-7% 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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