Why Chevron, Evergy And Black Hills Are Winners For Passive Income

Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Chevron, Evergy and Black Hills have rewarded shareholders for decades and recently announced dividend increases. These companies currently offer dividend yields of over 4%.

Chevron

Chevron Corporation CVX is one of the leading integrated energy companies. It is involved in upstream and downstream operations. The Upstream segment explores, produces and transports crude oil and natural gas, while the Downstream segment refines crude oil into petroleum products and manufactures renewable fuels and petrochemicals.

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The company has increased its dividends consistently for the last 37 years. In its latest dividend hike announcement on Feb. 2, the company’s board of directors raised the quarterly dividend by 8% to $1.63 per share, which is equal to an annual figure of $6.52. The dividend yield on the stock currently stands at 4.41%.

Chevron’s annual revenue (as of Sept. 30) stood at $194.01 billion. According to its most recent earnings release on Nov. 1, the company generated revenues of $50.67 billion and EPS of $2.51 for Q3 2024, both beating consensus estimates.

Check out this article by Benzinga, which deep dives into Chevron's recent unusual options activity.

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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. 

Evergy has increased its dividends every year for the last 20 years. On Nov. 7, the company's most recent dividend hike announcement, its board of directors raised the quarterly dividend by 4% to $0.6675 per share, equaling $2.67 annually. Currently, the dividend yield on the stock stands at 4.34%.

Evergy’s annual revenue (as of Sept. 30) stood at $5.78 billion. According to its most recent earnings release on Nov. 7, it generated Q3 2024 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.

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Black Hills

Black Hills Corporation BKH is an energy company that operates through its Electric Utilities, Gas Utilities and Corporate and Other segments. These segments operate in states in the Midwest and mountain regions of the U.S. 

Black Hills has raised its dividends every year for the last 54 years. According to its most recent dividend hike announcement on Jan. 26, it increased the quarterly dividend by $0.025 to $0.65 per share, equaling an annual figure of $2.60 per share. Currently, the dividend yield on the stock is 4.50%.

Black Hills’ annual revenue (as of Sept. 30) stood at $2.12 billion. According to the company’s most recent earnings announcement on Nov. 6, it generated Q3 2024 revenues of $401.60 million and an EPS of $0.35. Both figures were below Street estimates.

Chevron, Evergy and Black Hills are good choices for investors seeking reliable passive income. Their dividend yields of over 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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