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Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Extra Space Storage, Delek Logistics and Essential Utilities have rewarded shareholders for decades and recently announced dividend increases. These companies currently offer dividend yields of up to 11%.
Extra Space Storage
Extra Space Storage (NYSE:EXR) is a self-administered and self-managed REIT that owns, operates and manages almost 3,700 self-storage properties in 42 states, with over 280 million net rentable square feet of storage space.
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The company has increased its dividends every year for the last 14 years. Its most recent dividend hike was on Nov. 15, 2023, when it raised the quarterly dividend to $1.62 per share, equal to an annual figure of $6.48 per share. Currently, the dividend yield on the stock is 4.08%.
Extra Space Storage’s annual revenue (as of Sept. 30) stood at $3.2 billion. According to the company’s most recent earnings announcement on Oct. 29, it generated Q3 2024 revenues of $710.87 million, below the consensus of $821.37 million, while the EPS of $2.07 came in better than the consensus estimate of $2.03.
How much $1,000 invested in Extra Space Storage 20 years ago would be worth today? Check out this article by Benzinga to learn more.
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Delek Logistics Partners
Delek Logistics Partners (NYSE:DKL) owns and operates logistics and marketing assets for crude oil and intermediate & refined products.
The company has consistently increased its dividends for the last 11 years. As per the company’s most recent dividend announcement on Oct. 29, its board of directors raised the quarterly dividend from $1.09 to $1.10 per share, equal to an annual figure of $4.40 per share. Currently, the dividend yield on the stock stands at 11.2%.
Delek Logistics Partners’ annual revenue (as of Sept. 30) stood at $984.9 million. As per the company’s most recent earnings release on Nov. 6, it posted revenues of $214.07 million and an EPS of $0.71 for Q3 2024. Both figures came in below the consensus estimates.
