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Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Horace Mann Educators, First Merchants, and IDACORP have rewarded shareholders for years and recently announced dividend increases. These companies currently offer dividend yields of over 3%.
Horace Mann Educators
Horace Mann Educators (NYSE:HMN) operates as an insurance holding company in the U.S. The company operates through Property & Casualty, Life & Retirement, and Supplemental & Group Benefits segments.
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The company has raised its dividends consecutively for the last 15 years. According to its most recent dividend hike announcement on March 4, its board increased the quarterly dividend by 3% to $0.34 per share, equal to an annual figure of $1.36 per share. The dividend yield on the stock currently stands at 3.36%.
Horace Mann Educators’ annual revenue as of Sept. 30 stood at $1.54 billion. In its Q4 2024 earnings report on Feb. 5, the company posted revenues of $409 million, missing the consensus estimate of $418.33 million, while EPS of $1.62 came in above the consensus of $1.03.
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First Merchants
First Merchants (NASDAQ:FRME) operates as the financial holding company for First Merchants Bank that provides community banking services.
The company has raised its dividends every year for the last 13 years. In its most recent dividend hike announcement on May 8, First Merchants raised its quarterly dividend payout from $0.34 to $0.35 per share, equating to an annual figure of $1.40 per share. The dividend yield on the stock is 3.25%.
The company's annual revenue as of Sept. 30 stood at $626.09 million. According to its most recent earnings report on Jan. 30, First Merchants posted Q4 2024 revenues of $177.11 million and EPS of $1. Both figures beat the consensus estimates.
Check out this article by Benzinga for four analysts' insights on First Merchants.
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IDACORP
IDACORP (NYSE:IDA) engages in the generation, transmission, distribution, purchase, and sale of electric energy in the U.S.
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IDACORP has raised its dividend consecutively since 2011. In its most recent dividend hike announcement on Sept. 20, its board increased the quarterly dividend from $0.83 to $0.86 per share, equal to an annual figure of $3.44 per share. The current dividend yield is 3.01%.
IDACORP’s annual revenue as of Dec. 31 stood at $1.83 billion. As per its Q4 2024 earnings release on Feb. 20, the company posted EPS of $0.70, above the consensus estimate of $0.63, while revenues of $398.13 million missed the consensus of $403.21 million.
Horace Mann Educators, First Merchants, and IDACORP are good choices for investors seeking reliable passive income. Their dividend yields of over 3% 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 Horace Mann Educators, First Merchants, And IDACORP Are Winners For Passive Income originally appeared on Benzinga.com
