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Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Restaurant Brands International, Tyson Foods and NiSource have rewarded their shareholders for several decades and recently announced dividend increases. Furthermore, these companies offer high dividend yields of around 3%.

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Restaurant Brands International

Restaurant Brands International Inc. (NYSE:QSR) operates as a quick-service restaurant company with a footprint that spans more than 31,000 restaurants in more than 100 countries. As of year-end 2023, the company's portfolio is split among Burger King (7,144 units), Tim Hortons (4,525 units), Popeyes Louisiana Kitchen (3,394 units), Firehouse Subs (1,265 units) and international franchise units of those banners (14,742).

The company has raised its dividends every year since 2015. On Feb. 13, it announced its most recent dividend hike: The Board of Directors increased the quarterly dividend by 5.4% to $0.58 per share, which is equal to $2.32 annually. The current yield on the dividend is 3.28%.

The company's annual revenue (as of June 30) stood at $7.50 billion. According to its most recent quarterly earnings release on Aug. 8, it posted Q2 2024 EPS of $0.86, compared to the consensus of $0.87 and revenues of $2.08 billion, compared to the consensus of $2.03.

Check out this article by Benzinga to learn what buybacks and lower rates could mean for Restaurant Brands.

Tyson Foods

Tyson Foods, Inc. (NYS: TSN) is a protein-focused food producer that sells raw chicken, beef, pork and prepared foods. Chicken and beef are its two largest segments, comprising about one-third of U.S. sales. Prepared foods constitute roughly 20% of sales, including brands like Tyson, Jimmy Dean, Hillshire Farm, Ball Park and Sara Lee.

The company has raised its dividends every year for the last 12 years. According to Tyson Foods' most recent dividend hike announcement on Nov. 13, 2023, its Board of Directors increased its quarterly dividend from $0.48 to $0.49 per share, equal to $1.96 annualized. The dividend yield currently stands at 3.24%.

As of June 30, the company’s annual revenue stood at $53.1 billion. According to its most recent earnings announcement on Aug. 5, Tyson Foods posted revenues of $13.35 billion and EPS of $0.87 for Q3 2024. Both figures beat the consensus estimates.

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NiSource

NiSource Inc. (NYSE:NI) is one of the nation's largest natural gas distribution companies, with approximately 3.2 million customers in Indiana, Kentucky, Maryland, Ohio, Pennsylvania and Virginia. NiSource's electric utility transmits and distributes electricity in northern Indiana to about 500,000 customers.

The company has raised its dividends every year since 2016. On Jan. 26, NiSource’s most recent dividend hike announcement raised the quarterly dividend from $0.25 to $0.265 per share, equal to $1.06 annualized. The current yield stands at 3.09%.

As of June 30, NiSource’s annual revenue stood at $5.2 billion. According to the company’s most recent earnings release on Aug. 7, it posted revenues of $1.10 billion, missing the consensus of $1.13 billion, while the EPS of $0.21 came in above the consensus estimate of $0.13.

NiSource reaffirmed 2024 adjusted EPS guidance of $1.70-1.74 and annual 6-8% adjusted EPS growth and annual 8-10% rate base growth for the 2023-2028 period.

Check out this article by Benzinga for three more stocks which offer high dividend yields of 3-5%.

Restaurant Brands International, Tyson Foods and NiSource are good choices for investors seeking reliable passive income. Their dividend yields of around 3% and long history of consistent hikes make them attractive to income-focused investors.

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This article How Restaurant Brands International, Tyson Foods and NiSource Can Put Cash In Your Pocket originally appeared on Benzinga.com