Why Cable One, Alliant Energy, and Delek Logistics Partners Are Winners For Passive Income
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Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Cable One, Alliant Energy, and Delek Logistics Partners have rewarded their shareholders for several decades and recently announced dividend increases. Furthermore, these companies offer high dividend yields of up to 10%.
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Cable One
Cable One, Inc. (NYSE:CABO) is a leading broadband communications provider committed to connecting customers and communities to what matters most. Through Sparklight® and the associated Cable One family of brands, the Company serves approximately 1.1 million residential and business customers in 24 states.
Cable One has consistently raised its dividends every year since 2015. According to the company's most recent dividend hike announcement on Aug. 18, 2023, its Board of Directors increased the quarterly dividend from $2.85 to $2.95 per share, equating to $11.80 annually. The current yield on the dividend stands at 3.35%.
The company's annual revenue (as of June 30) is $1.6 billion. According to its most recent earnings report, released on Aug. 1, it generated revenues of $394.46 million and an EPS of $8.16 in Q2 2024. Both figures were below Street estimates.
“We believe our strategic initiatives intended to drive penetration deeper across all market segments are setting the stage for sustainable long-term growth,” said Julie Laulis, Cable One President and CEO. “Despite challenges such as the discontinuation of the Affordable Connectivity Program (ACP) and typical seasonal headwinds, the underlying fundamentals of both residential and business data additions and retention levels maintained positive momentum during the second quarter, with both connects and disconnects improving year-over-year for the second consecutive quarter.”
Alliant Energy
Alliant Energy Corporation (NASDAQ:LNT) is the parent of two regulated utilities, Interstate Power and Light and Wisconsin Power and Light. These subsidiaries serve nearly one million electric customers and 425,000 natural gas-only customers. Both subsidiaries generate and distribute electricity and natural gas. Alliant also owns a 16% interest in American Transmission Co.
Alliant Energy has increased its dividends consecutively since 2017, with the most recent hike announced in January. According to the company's news release on Jan. 12, 2024, its Board of Directors raised the quarterly dividend from $0.45 to $0.48 per share, equaling $1.92 annually. Currently, the company's dividend yield is 3.29%.
Alliant Energy's annual revenue (as of June 30) is $4 billion. According to the company’s Q2 2024 earnings report on Aug. 1, it generated revenues of $894 million and an EPS of 0.57. According to Benzinga, both were below the consensus estimates.
"We are pleased with the outcome of the settlement in our Iowa rate review and confident about the positive impact it will have to promote load growth while delivering consistent earnings and ensuring base rate stability for our customers," said Lisa Barton, Alliant Energy President and CEO.
The company reaffirmed its full-year earnings guidance of $2.99 – $3.13.
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Delek Logistics Partners
Delek Logistics Partners, LP (NYSE:DKL) owns and operates logistics and marketing assets for crude oil and intermediate and refined products.
Delek Logistics Partners has raised its dividends every year for the last 11 years. On July 30, the company announced its most recent dividend hike, increasing the quarterly dividend from $1.07 to $1.09 per share, or $4.36 annualized, with a yield of 10.6%.
As of June 30, Delek Logistics Partners' annual revenue stood at $1 billion. According to its Q2 2024 earnings report, announced on Aug. 6, the company generated revenues of $264.63 million and an EPS of $0.87, both above consensus estimates.
Looking for high dividend yields? Check out this article by Benzinga for three more stocks to add to your portfolio for passive income.
To summarize, Cable One, Alliant Energy, and Delek Logistics Partners are solid options for investors seeking reliable passive income. Their offered yields of around 3-10% and their long history of consistent dividend hikes make them particularly attractive to income-focused investors.
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This article Why Cable One, Alliant Energy, and Delek Logistics Partners Are Winners For Passive Income originally appeared on Benzinga.com