Companies with a long history of paying dividends and consistently hiking them are highly sought after by income-focused investors. CareTrust, Genuine Parts, and Hess Midstream are three such companies that have not only rewarded their shareholders for years but have also recently announced dividend increases, offering dividend yields of up to 6%.
CareTrust REIT, listed on the NYSE under the ticker symbol CTRE, specializes in acquiring, financing, developing, and owning real property leased to third-party tenants in the healthcare sector. The company has a track record of increasing dividends for the past 10 years, with its most recent dividend hike announced on March 18, raising the quarterly payout to $0.335 per share, equivalent to an annual figure of $1.34 per share. Currently, the dividend yield stands at 4.62%. CareTrust reported annual revenue of $228.26 million as of December 31, with Q4 2024 earnings exceeding Street estimates.
Genuine Parts Company, trading on the NYSE under the ticker symbol GPC, is a global service provider of automotive and industrial replacement parts and value-added solutions. The company has increased dividends for an impressive 69 consecutive years, with the most recent hike on February 18, raising the quarterly payout to $1.03 per share, totaling $4.12 per share annually. The current dividend yield is 3.41%. Genuine Parts reported annual revenue of $23.49 billion as of December 31, with Q4 2024 earnings surpassing consensus estimates.
Hess Midstream LP, listed on the NYSE under the ticker symbol HESM, is a midstream company that owns, operates, develops, and acquires midstream assets to provide services to Hess and third-party customers. The company has increased dividends for the past eight years, with the most recent hike on January 27, raising the quarterly payout to $0.7012 per share, equaling $2.80 annually. The current dividend yield is an attractive 6.29%. Hess Midstream reported annual revenue of $1.49 billion as of December 31, with Q4 2024 earnings beating consensus estimates.
Investors seeking reliable passive income may find CareTrust, Genuine Parts, and Hess Midstream to be appealing choices. With dividend yields of up to 6% and a long history of consistent hikes, these companies offer stability and income potential for income-focused investors.
In conclusion, companies with a strong dividend history and consistent increases can be attractive investments for those seeking passive income. CareTrust, Genuine Parts, and Hess Midstream exemplify this trend, offering investors the opportunity to earn income while benefiting from the companies’ long-standing commitment to rewarding shareholders.
