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Utility companies, known for their steady cash flows, provide a reliable cushion during periods of market turbulence. Here, we highlight three utility companies—Brookfield Infrastructure Partners, Southern Company, and IDACORP—that have a solid history of maintaining and growing their dividends.
Brookfield Infrastructure Partners
Brookfield Infrastructure Partners L.P. (NYSE:BIP) owns and operates utilities, transport, midstream, and data businesses across the Americas, Europe, and the Asia Pacific.
The company has maintained dividend payments for 17 consecutive years and has raised them for 14 years. Brookfield pays a quarterly dividend of $0.4050 per share, or $1.62 annually, yielding 5.99%.
Over the past twelve months, the company generated $18.9 billion in revenue and $206 million in net income.
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Southern Company
Southern Company (NYSE:SO) is a leading energy provider serving 9 million customers in the Southeast and beyond. It operates electric and natural gas distribution companies, a competitive generation company, a distributed energy distribution company, and a fiber optics network.
Southern has raised its dividend for 22 consecutive years. In April, the company increased its quarterly dividend by 2.9% to $0.72 per share, or $2.88 annually, yielding 3.70%.
Southern Company has beaten consensus EPS estimates for the last six quarters, with the stock up over 12% YTD.
Over the past twelve months, the company generated $25.4 billion in revenue and $4.2 billion in net income
IDACORP
IDACORP, Inc. (NYSE:IDA) generates, transmits, and distributes electric energy in the United States. The company operates hydroelectric, natural gas, and coal-fired plants.
IDACORP has raised its dividend for 12 consecutive years. In October 2023, it raised its quarterly dividend by 5.1% to $0.83 per share, or $3.32 annually, yielding 3.65%.
Over the past twelve months, IDACORP generated $1.78 billion in revenue and $253.3 million in net income.
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This article Top Utility Stocks With Rock-Solid Dividends For Steady Income originally appeared on Benzinga.com
