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Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Archer-Daniels-Midland, Federal Agricultural Mortgage and Open Text Corporation have rewarded their shareholders for several decades and recently announced dividend increases. Furthermore, these companies offer high dividend yields of over 3%.

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Archer-Daniels-Midland

Archer-Daniels-Midland (NYSE:ADM) procures, transports, stores, processes and merchandises agricultural commodities, ingredients, flavors and solutions globally.

The company has paid uninterrupted dividends for more than 92 years. According to its most recent dividend hike announcement on Jan. 25, its Board of Directors increased the quarterly dividend by 11% to $0.50 per share, equating to an annual $2 per share. Currently, the company’s dividend yield stands at 3.48%.

The company's annual revenue (as of June 30) is $88.8 billion. According to its most recent earnings report, released on July 30, it posted Q2 2024 EPS of $1.03 and revenues of $22.25 billion. Both figures missed the consensus estimates.

The company affirmed its previously provided EPS guidance for the full year, expecting adjusted earnings per share in the range of $5.25 to $6.25.

Federal Agricultural Mortgage

Federal Agricultural Mortgage (NYSE:AGM) provides agricultural real estate and rural housing mortgage loans in the secondary market in the U.S.

The company has raised dividends consistently for the last 13 years. According to its most recent dividend hike announcement on Feb. 23, its Board of Directors raised the quarterly dividend by 27% to $1.40 per share or $5.60 annualized. The current yield on the dividend is 3.06%.

As of June 30, Federal Agricultural Mortgage's annual revenue stood at $365.6 million. According to the company's most recent earnings release on Aug. 5, it generated Q2 2024 revenues of $89.24 million and an EPS of $3.63, below consensus estimates.