Reliable Income Streams: 3 Dividend Kings with Impressive Track Records
Investors seeking steady passive income often turn to companies with a long history of paying dividends and consistently hiking them. Three dividend kings, Extra Space Storage, Delek Logistics, and Essential Utilities, have rewarded shareholders for decades and recently announced dividend increases, offering yields of up to 11%.
Extra Space Storage: A Self-Storage Giant
Extra Space Storage (NYSE:EXR) is a self-administered and self-managed REIT that owns, operates, and manages nearly 3,700 self-storage properties across 42 states, with over 280 million net rentable square feet of storage space. The company has increased its dividends every year for the last 14 years, with its most recent hike on November 15, 2023, raising 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%.
Delek Logistics Partners: A Logistics Powerhouse
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, with its most recent dividend announcement on October 29, raising 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%.
Essential Utilities: A Water and Gas Distribution Leader
Essential Utilities (NYSE:WTRG) is a Pennsylvania-based holding company for water, wastewater, and natural gas distribution utilities. The company’s water business serves three million people in eight states. Essential Utilities has increased its dividends consecutively for the last 33 years, with its most recent dividend announcement on July 31, increasing the quarterly dividend by 6% to $0.3255 per share, equal to $1.302 annually. Currently, the company’s dividend yield is 3.33%.
Why These Dividend Kings Stand Out
Extra Space Storage, Delek Logistics, and Essential Utilities are attractive to income-focused investors due to their impressive dividend yields and long history of consistent hikes. These companies offer a reliable source of passive income, making them ideal for investors seeking steady returns.
Alternative Real Estate Investment Opportunities
Real estate can be a lucrative investment, but it often comes with high barriers to entry. However, there are alternative ways to tap into the power of real estate without owning physical property. Arrived Home’s Private Credit Fund, for instance, has historically paid an annualized dividend yield of 8.1%, providing access to a pool of short-term loans backed by residential real estate, with a minimum investment of only $100.
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