Passive income is a sought-after source of revenue for many investors, providing a steady stream of income without requiring active involvement in day-to-day operations. Companies that have a long history of paying dividends and consistently increasing them are particularly attractive to income-focused investors. Three companies that stand out as winners for passive income are PepsiCo, Portland General Electric, and WesBanco.
PepsiCo, a global leader in snacks and beverages, has a strong track record of dividend growth. The company has raised its dividends consecutively for the past 52 years, demonstrating its commitment to rewarding shareholders. In its most recent dividend announcement, PepsiCo increased its quarterly dividend by 7% to $1.355, equivalent to $5.42 annually. With a current dividend yield of 3.78%, PepsiCo offers investors a solid income opportunity.
Portland General Electric, a regulated electric utility in Oregon, is another company that has a history of increasing dividends. The company has raised its dividends every year for the last 19 years, showcasing its dedication to providing value to shareholders. In its most recent dividend hike announcement, Portland General Electric raised the quarterly payout by 5.3% to $0.50 per share, or $2 per share annually. With a dividend yield of 4.80%, Portland General Electric offers investors a generous income stream.
WesBanco, a provider of banking and financial services in the U.S., is also a strong contender for passive income investors. The company has increased its dividends consecutively for the last 14 years, highlighting its commitment to rewarding shareholders. In its most recent dividend announcement, WesBanco raised the quarterly dividend from $0.36 to $0.37 per share, or $1.48 annually. With a dividend yield of 4.06%, WesBanco provides investors with a reliable income source.
Overall, PepsiCo, Portland General Electric, and WesBanco are solid choices for investors seeking reliable passive income. With dividend yields ranging from 3% to 4% and a history of consistent dividend hikes, these companies offer income-focused investors an attractive opportunity to generate passive income. By investing in companies with a strong track record of dividend growth, investors can build a diversified portfolio that provides a steady stream of income over time.
