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Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Morgan Stanley, Evergy, and Avista have rewarded their shareholders for several decades and announced dividend increases not long ago. Furthermore, these companies offer high dividend yields of around 3-5%.

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Morgan Stanley

Morgan Stanley (NYSE:MS) is a financial holding company that provides various financial products and services to corporations, governments, financial institutions, and individuals globally.

Morgan Stanley has consistently raised its dividends yearly for the last 10 years. On June 28, the company’s most recent dividend announcement, its Board of Directors increased the quarterly dividend to $0.925 per share from $0.85 per share. The current yield on the dividend stands at 3.77%.

Morgan Stanley’s annual revenue (as of June 30) is $52.7 billion. In its most recent earnings announcement on July 16, the company reported Q2 2024 EPS of $1.82 and revenues of $15 billion. Both figures were above the consensus estimates.

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Evergy

Evergy, Inc. (NASDAQ:EVRG) is a regulated electric utility serving eastern Kansas and Western Missouri, and it is one of the largest wind energy suppliers in the U.S. The utility has a combined rate base of approximately $19 billion, about half which is in Kansas and the rest split between Missouri and federal jurisdiction.

Evergy has increased its dividends every year for the last 20 years. As per the company's most recent dividend hike announcement on Nov. 7, 2023, its Board of Directors increased its quarterly dividend from $0.6125 to $0.6425 per share, equal to $2.57 annually. Currently, the company’s dividend yield is 4.25%.

Evergy’s annual revenue (as of June 30) is $5.6 billion. According to the company’s most recent earnings report, released on Aug. 9, it generated Q2 2024 revenues of $1.45 billion and EPS of $0.90, both figures above consensus estimates.

“The overall economic development pipeline remains robust in both Kansas and Missouri. Our focus on affordability and regional rate competitiveness is an important contributor to this large pipeline and provides a foundation of support for the tremendous potential in our states," said David Campbell, Evergy chairman and chief executive officer. “Following solid performance in the second quarter, we remain on track to meet our expectations for the year."

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Avista Corporation

Avista Corporation (NYSE:AVA) is an energy company that produces, transmits, distributes, and operates other energy-related businesses. Avista Utilities is the operating division that provides electric service to 415,000 customers and natural gas to 378,000 customers.

Avista has raised its dividends consecutively since 2003. On Feb. 7, the company announced its most recent dividend hike, increasing the quarterly dividend from $0.46 to $0.475 per share, equaling $1.90 annually. Currently, the company's dividend yield stands at 4.96%.

Avista's annual revenue (as of June 30) is $1.9 billion. According to the company’s Q2 2024 earnings report, released on Aug. 7, it posted revenues of $390.81 million and an EPS of $0.29. Both figures beat the consensus estimates.

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Morgan Stanley, Evergy, and Avista are good choices for investors seeking reliable passive income. Their offered dividend yields of around 3-5% and their long history of consistent hikes make them particularly attractive to income-focused investors.

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This article How Morgan Stanley, Evergy And Avista Can Put Cash In Your Pocket originally appeared on Benzinga.com