Why Getty Realty, Xcel Energy And Portland General Electric Are Winners For Passive Income
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Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Getty Realty, Xcel Energy and Portland General Electric have rewarded shareholders for decades and recently announced dividend increases. These companies currently offer dividend yields of around 3-6%.
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Getty Realty
Getty Realty (NYSE:GTY) is a publicly traded, net lease REIT that specializes in the acquisition, financing and development of convenience, automotive and other single-tenant retail real estate. As of June 30, 2023, the company’s portfolio included 1,053 free-standing properties in 39 states and Washington, D.C.
Getty Realty has increased its dividends for the last 12 consecutive years. According to its most recent dividend announcement on Oct. 22, its board of directors raised the quarterly dividend by 4.40% to $0.47 per share, which is equal to $1.88 annualized. The dividend yield on the stock currently stands at 5.82%.
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Getty Realty’s annual revenue (as of Sept. 30) stood at $198 million. According to the company’s most recent earnings release on Oct. 23, it posted Q3 2024 revenues of $51.47 million and adjusted Funds From Operations (AFFO) of $0.59. Both figures were above the consensus estimates.
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Xcel Energy
Xcel Energy (NASDAQ:XEL) generates, purchases, transmits, distributes and sells electricity. It is also one of the largest renewable energy owners and suppliers in the U.S., with more than half its electricity sales coming from carbon-free energy. Xcel manages utilities serving 3.8 million electric customers and 2.1 million natural gas customers in eight states.
Xcel Energy has increased dividends every year for the last 21 years. On Feb. 21, it announced its most recent dividend hike, raising the quarterly dividend by 5.3% to $0.5475 per share, which is equal to an annual figure of $2.19 per share. The current dividend yield on the stock stands at 3.08%.
The company’s annual revenue (as of June 30) stood at $13.8 billion. As per its most recent earnings release on Oct. 31, it posted revenues of $3.64 billion and an EPS of $1.25 for Q3 2024. Both figures came in below consensus estimates.
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Portland General Electric Company (NYSE:POR) is a regulated electric utility in Oregon that provides electricity generation, wholesale purchase, transmission, distribution and retail sales. It operates six thermal plants, three wind farms and seven hydroelectric facilities.
The company has consistently raised its dividends for the last 18 years. As per its most recent dividend hike announcement on April 19, the company increased the quarterly dividend by 5.3% to $0.50 per share, which is equal to an annual figure of $2 per share. The current dividend yield on the stock is 4.24%.
Portland General Electric’s annual revenue (as of Sept. 30) stood at $3.3 billion. According to its most recent earnings announcement on Oct. 25, it posted Q3 2024 revenues of $942 million and an EPS of $0.90. Both figures came in above the Street estimates.
Coca-Cola, mid-America Apartment Communities and Bank OZK are good choices for investors seeking reliable passive income. Their dividend yields of around 3-6% 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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This article Why Getty Realty, Xcel Energy And Portland General Electric Are Winners For Passive Income originally appeared on Benzinga.com
