Looking For Yields: Delek Logistics, Edison International And Shutterstock Are Consistent Moneymakers

Benzinga
18 Nov 2024

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Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Delek Logistics Partners, Edison International and Shutterstock have rewarded shareholders for many years and recently announced dividend increases. These companies currently offer dividend yields of up to 11%.

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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. 

Delek Logistics Partners has consistently raised its dividends since 2013. On Oct. 29, in the company’s most recent dividend announcement, its board of directors increased the quarterly dividend from $1.09 to $1.10 per share, equal to $4.40 annualized. Currently, the dividend yield on the stock stands at 11.3%.

Delek Logistics Partners' annual revenue (as of Sept. 30) stood at $984.9 million. According to the company's most recent earnings announcement on Nov. 6, it posted Q3 2024 revenues of $214.07 million and an EPS of $0.71. Both figures missed consensus estimates.

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Edison International

Edison International (NYSE:EIX) is one of the nation’s largest electric utility holding companies, focused on providing clean and reliable energy through its independent companies. Headquartered in Rosemead, California, Edison International is the parent company of Southern California Edison Company, a utility delivering electricity to 15 million people across Southern, Central and Coastal California.

The company has raised its dividends every year for the last twenty years. On Dec. 14, 2023, its board of directors announced its most recent dividend hike: a 5.8% increase in the quarterly dividend to $0.78 per share, which is equal to an annual figure of $3.12. The dividend yield on the stock currently stands at 3.80%.

Edison International's annual revenue (as of Sept. 30) is $17.3 billion. As per the company's most recent earnings release on Oct. 29, it posted Q3 2024 revenues of $5.20 billion and an EPS of $1.51. Both figures came in above consensus estimates.

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Shutterstock

Shutterstock (NYSE:SSTK) provides a platform to connect brands and businesses to high-quality content in North America, Europe and internationally. The company offers image services consisting of photographs, vectors and illustrations, which are used in visual communications such as websites, digital and print marketing materials, corporate communications, books, publications and others.

Shutterstock has raised its dividends every year for the last four years. As per its most recent dividend hike announcement on Jan. 30, it raised the quarterly dividend by 11% to $0.30 per share or $1.20 annualized. The current yield on the stock stands at 3.83%.

As of Sept. 30, Shutterstock's annual revenue stood at $902.2 million. According to the company's most recent earnings release on Oct. 29, it posted Q3 2024 revenues of $250.59 million and an EPS of $1.31, both of which were above consensus estimates.

Check out this article by Benzinga for four analysts' insights on Shutterstock. 

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Delek Logistics Partners, Edison International and Shutterstock are good choices for investors seeking reliable passive income. Their dividend yields of up to 11% and long history of consistent hikes make them attractive to income-focused investors.

This article by Benzinga highlights three more companies offering solid dividend yields. 

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This article Looking For Yields: Delek Logistics, Edison International And Shutterstock Are Consistent Moneymakers originally appeared on Benzinga.com

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