Looking for reliable income? Investing in companies with a long history of dividend growth can be a great option. Here are three top companies that have been consistently increasing their dividends for over three decades:
1. Genuine Parts Company (NYSE:GPC) distributes automotive and industrial replacement parts. This company has raised its dividend for 36 consecutive years and currently pays a quarterly dividend of $1 per share, yielding 2.90%. With $23.1 billion in revenue and $1.26 billion in net income over the past twelve months, Genuine Parts is a solid choice for income-seeking investors.
2. Sonoco Products Company (NYSE:SON) is a global packaging company that designs, manufactures, and sells sustainable packaging products. Sonoco has raised its dividend for 41 consecutive years and pays a quarterly dividend of $0.52 per share, yielding 4.03%. With $6.68 billion in revenue and $391.8 million in net income over the past twelve months, Sonoco is a reliable option for investors looking for consistent income.
3. Hormel Foods Corporation (NYSE:HRL) develops, processes, and distributes a variety of meat, nut, and food products globally. Hormel has raised its dividend for 31 consecutive years and pays a quarterly dividend of $0.2825 per share, yielding 3.74%. With $12.04 billion in revenue and $766.8 million in net income over the past twelve months, Hormel is a stable choice for income-focused investors.
In the current high-interest-rate environment, there are opportunities for income-seeking investors to earn high yields through certain private market real estate investments. For example, the Jeff Bezos-backed Private Credit Fund offers a target 7% to 9% net annual yield paid monthly, with a minimum investment of only $100. Consider exploring high-yield investment options to take advantage of the current market conditions.
Remember, investing always carries risks, so it’s important to do your research and consult with a financial advisor before making any investment decisions.