Looking For Yields: Portland General Electric, CubeSmart And Mosaic 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. Portland General Electric, CubeSmart and Mosaic 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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Portland General Electric

Portland General Electric Company (NYSE:POR) is a regulated electric utility in Oregon that provides electricity generation, wholesale purchase, transmission, distribution and retail sales. It operates six thermal plants, three wind farms and seven hydroelectric facilities.

Portland General Electric has consistently increased its dividends annually for 18 years. In its most recent dividend hike announcement on April 19, the company raised the quarterly dividend by 5.3% to $0.50 per share, equating to an annual figure of $2 per share. The current dividend yield is 4.21%.

Portland General Electric's annual revenue as of June 30 was $3.2 billion. According to its most recent earnings release on July 26, it posted Q2 2024 revenues of $758 million and an EPS of $0.69, both of which beat Street estimates.

The company reaffirmed its full-year 2024 adjusted earnings guidance estimate of $2.98 to $3.18 per diluted share.

CubeSmart

CubeSmart (NYSE:CUBE) is a real estate investment trust that acquires, owns and manages self-storage facilities throughout the United States. The company's portfolio consists of buildings with numerous enclosed storage areas that residential and commercial customers rent, mainly on a month-to-month basis.

The company has increased its dividends every year for the last 14 years. In its most recent dividend hike announcement on Dec. 7, 2023, the company raised the quarterly dividend by 4.1% to $0.51 per share or $2.04 annualized. The current dividend yield stands at 4.08%.

CubeSmart’s annual revenue as of June 30 was $1.1 billion. The company's most recent earnings release on Aug. 1 posted Q2 2024 revenues of $266.21 million, above the consensus of $254.94 million, with an EPS of $0.64, matching expectations.

"As expected, we experienced a marginally stronger seasonal uplift in demand during the second quarter and a customer base that continues to be resilient in an uncertain economy," commented President and Chief Executive Officer Christopher P. Marr. "Our data-driven approach to operations continues to allow us to optimize our performance in the face of changing macro conditions."

Check out this article by Benzinga for eight analysts' insights on CubeSmart stock.

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Mosaic

The Mosaic Company (NYSE:MOS) is the world's leading integrated producer of concentrated phosphate and potash – two of agriculture’s three most important nutrients. The company employs over 13,000 people in six countries to serve farmers worldwide.

Mosaic raised its dividends every year for the last six years. In its most recent dividend hike announcement on Dec. 15, 2023, the company raised its quarterly dividend from $0.20 to $0.21 per share or $0.84 annualized. The current dividend yield is 3.21%.

As of June 30, Mosaic's annual revenue stood at $12.2 billion. According to the company's most recent earnings announcement on Aug. 6, it posted revenues of $2.82 billion and an EPS of $0.54 in Q2 2024. Both figures came in below the consensus estimates.

Check out this article from Benzinga for three more stocks with consistent dividend hikes and high yields.

Portland General Electric, CubeSmart and Mosaic are good choices for investors seeking reliable passive income. Their dividend yields of around 3-4% and long history of consistent hikes make them attractive to income-focused investors.

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This article Looking For Yields: Portland General Electric, CubeSmart And Mosaic Are Consistent Moneymakers originally appeared on Benzinga.com