Looking For Yields: TXNM Energy, Regions Financial And Southern Are Consistent Moneymakers
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Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. TXNM Energy, Regions Financial, and Southern have rewarded their shareholders for several decades and recently announced dividend increases. Furthermore, these companies offer high dividend yields of around 3-4%.
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TXNM Energy
TXNM Energy, Inc. (NYSE:TXNM) is a holding company that owns regulated utility companies providing energy to houses and businesses across Texas and New Mexico using its utilities.
TXNM Energy has increased its dividends consecutively for the last 12 years. On Dec. 5, 2023, the company’s most recent dividend hike announcement increased the quarterly dividend by 5.4% to $0.3875 per share, equal to an annual $1.55. The dividend yield currently stands at 3.72%.
TXNM Energy's annual revenue (as of June 30, 2024) is $1.8 billion. According to the company's Q2 2024 earnings announcement on July 31, it generated revenues of $488.10 million and EPS of $0.60. Both figures came in better than the consensus estimates.
The company affirmed its fiscal 2024 guidance, expecting $2.65 – $2.75 per-share earnings.
Regions Financial
Regions Financial Corporation (NYSE:RF) is a regional bank headquartered in Alabama, with branches primarily in the Southeastern and Midwestern United States. Regions primarily provide traditional commercial and retail banking and offer mortgage services, asset management, wealth management, securities brokerage, and trust services.
Regions Financial has raised its dividends consecutively for the last 11 years. According to the company’s most recent dividend announcement on July 17, its Board of Directors increased the quarterly dividend from $0.24 to $0.25 per share, equal to $1 annually. Currently, the company’s dividend yield is 4.42%.
Regions Financial’s annual revenue (as of June 30, 2024) is $7.1 billion. As per the company's Q2 2024 earnings announcement on July 19, it posted revenues of $1.78 billion and EPS of $0.52, beating the consensus estimates.
"Our teams delivered solid second-quarter results driven by the successful execution of Regions’ business strategies. We have a great plan, and the investments we are making in talent, technology, products and services will continue to benefit us as macroeconomic conditions improve,” said John Turner, Chairman, President and CEO of Regions Financial.
The Southern Company (NYSE:SO) generates, transmits, and distributes electricity. Incorporated in 1945 and headquartered in Atlanta, Georgia, it is one of the largest utilities in the U.S. It serves nine million customers with vertically integrated electric utilities in three states and natural gas distribution utilities in four states.
Southern has increased its dividends consistently for the last 23 years. As per the company’s most recent dividend hike announcement on April 22, it increased the quarterly dividend from $0.70 to $0.72, equating to an annual $2.88. The current yield on the dividend stands at 3.22%.
The company’s annual revenue (as of June 30, 2024) is $26.1 billion. According to the company's most recent earnings announcement on Aug. 1, it posted Q2 2024 revenues of $6.46 billion and an EPS of $1.10. Both came in above the consensus estimates.
“Southern Company businesses performed well during the second quarter of 2024,” said Chairman, President and CEO Christopher C. Womack. “We are pleased with our business fundamentals, and the economies in our service territories, especially those within our Southeastern service footprint, remain strong with continuing customer growth and robust economic development.”
Check out this article by Benzinga to understand how to earn $100 monthly from the Southern stock.
TXNM Energy, Regions Financial and Southern are strong choices for investors seeking reliable passive income. Their offered yields of around 3-4% and their long history of consistent dividend hikes make them particularly attractive to income-focused investors.
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