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Investors looking for reliable income and growth often look to stocks with a significant history of increasing dividends. Here we highlight three companies – Hess Midstream LP, Prologis, Inc. and FinVolution Group – that recently announced significant dividend increases.
Hess Midstream
Hess Midstream LP (NYSE:HESM) is a fee-based, growth-oriented midstream company that owns, operates, develops and acquires a diverse set of midstream assets, primarily located in the Bakken and Three Forks shale plays of North Dakota.
The company has maintained dividend payments for 8 consecutive years and increased them for 7 years. In October 2023, Hess Midstream announced a 2.7% increase in its quarterly dividend to $0.6516 per share, or $2.6064 per year, yielding 7.30%.
Over the last twelve months, Hess Midstream generated revenue of $1.39 billion and net income of $142.5 million.
Prologue
Prologis, Inc. (NYSE:PLD) is a leading logistics real estate company specializing in high-barrier, high-growth markets. As of March 31, 2024, it owned or invested in properties and development projects totaling approximately 1.2 billion square feet in 19 countries. Prologis leases advanced logistics facilities to approximately 6,700 customers, primarily in the business-to-business and retail/online sectors.
The company has maintained dividend payments for 14 consecutive years and increased them for 10 years. In February, Prologis increased its quarterly dividend by 12.6%, to $0.96 per share, or $3.84 per year, giving it a 3.49%.
Over the past twelve months, Prologis reported revenue of $8.51 billion and net income of $3.18 billion.
EndVolution
FinVolution Group (NYSE:FINV) is a leading fintech platform with strong brand awareness in China and international markets, connecting young borrowers with financial institutions. Established in 2007, the company pioneered China’s online consumer credit industry, developing advanced technologies in the areas of credit risk assessment, fraud detection, big data and artificial intelligence.
FinVolution has maintained dividend payments for 6 consecutive years and increased them for 4 years. In April, the company announced a 10% increase in its annual dividend, to $0.24 per share, which will net it 4.97%.
Over the past twelve months, FinVolution generated $1.75 billion in revenue and $299.4 million in net income.
Are you looking for higher yielding opportunities?
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Don’t miss this opportunity to take advantage of high yield investments while rates are high. Check out Benzinga’s favorite high-yield deals.
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