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Utilities, known for their stable cash flows, provide a reliable cushion during times of market turbulence. Here we highlight three utilities – Brookfield Infrastructure Partners, Southern Company and IDACORP – that have a strong track record of maintaining and increasing their dividends.
Brookfield Infrastructure Partners
Brookfield Infrastructure Partners LP (NYSE:PIF) owns and operates utilities, transportation, midstream and data businesses in the Americas, Europe and the Asia-Pacific region.
The company has maintained its dividend payments for 17 consecutive years and increased them for 14 years. Brookfield pays a quarterly dividend of $0.4050 per share, or $1.62 per year, which represents a yield of $1.50 per share. 5.99%.
Over the past twelve months, the company generated $18.9 billion in revenue and $206 million in net income.
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Southern Company
Southern Company (NYSE:SO) is a leading energy provider serving 9 million customers in the Southeast and beyond. It operates electric and natural gas distribution companies, a competitive generation company, a distributed energy distribution company and a fiber optic network.
Southern has raised its dividend for 22 consecutive years. In April, the company increased its quarterly dividend by 2.9% to $0.72 per share, or $2.88 per year, giving it a yield 3.70%.
Southern Company has exceeded consensus EPS estimates for the past six quarters, with the stock up more than 12% year to date.
Over the past twelve months, the company generated $25.4 billion in revenue and $4.2 billion in net income.
IDACORP
IDACORP, Inc. (NYSE:IDA) produces, transmits and distributes electric energy in the United States. The company operates hydroelectric, natural gas and coal-fired power plants.
IDACORP has increased its dividend for 12 consecutive years. In October 2023, it increased its quarterly dividend by 5.1% to $0.83 per share, or $3.32 per year, representing a yield of 3.65%.
Over the past twelve months, IDACORP generated $1.78 billion in revenue and $253.3 million in net income.
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