Looking For Yields: Hess Midstream, Southern And LCI Industries Are Consistent Moneymakers

Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Hess Midstream, Southern and LCI Industries have rewarded shareholders for decades and recently announced dividend increases. These companies currently offer dividend yields of up to 7%.

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, terminating and exporting. 

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The company has increased dividends every year for the last eight years. According to its most recent dividend hike announcement on Oct. 28, its board of directors raised the quarterly dividend from $0.6677 to $0.6846, which is equal to $2.74 annually. Currently, the dividend yield on the stock is 7.22%. 

Hess Midstream's annual revenue (as of Sept. 30) stood at $1.45 billion. According to its most recent earnings release on Oct. 30, the company posted Q3 2024 revenues of $378.50 million, better than the consensus of $376.98 million, while the EPS of $0.63 missed the consensus estimate of $0.66.

See Also: CEO of Integris gathered a team of senior investment managers who have $34.22 billion in combined owned and managed assets in the West Coast — here’s how to invest in their private credit fund that targets 12% annual interest rate.

The Southern Company 

The Southern Company SO generates, transmits and distributes electricity. Incorporated in 1945 and headquartered in Atlanta, Georgia, it is one of the largest utilities in the U.S. It serves nine million customers with vertically integrated electric utilities in three states and natural gas distribution utilities in four states. 

Southern has raised its dividends every year since 2001. In its most recent dividend hike announcement on April 22, the company increased the quarterly dividend from $0.70 to $0.72, which is equal to an annual figure of $2.88 per share. The dividend yield on the stock currently stands at 3.55%.

Southern's annual revenue (as of Sept. 30) stood at $26.43 billion. As per its most recent earnings release on Oct. 31, it posted Q3 2024 revenues of $7.27 billion, below the consensus estimate of $7.29 billion, while the EPS of $1.43 came in above the consensus of $1.34. 

Check out this article by Benzinga to learn how much it would take to earn $100 a month from Southern 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. 

The company has consistently increased dividends every year since 2016. As per its most recent dividend announcement on Nov. 14, LCI Industries increased the quarterly dividend from $1.05 to $1.15 per share, equaling an annual figure of $4.60 per share. The current yield on the dividend stands at 4.50%.

LCI Industries’ annual revenue (as of Sept. 30) stood at $3.78 billion. According to its most recent earnings announcement on Nov. 7, it posted Q3 2024 EPS of $1.39, compared to the consensus of $1.37 and revenues of $915.50 million, compared to the consensus estimate of $922.81 million.

Hess Midstream, Southern and LCI Industries 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.

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

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