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Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Nexstar Media, Avista and ALLETE have rewarded shareholders for years and recently announced dividend increases. These companies currently offer dividend yields of around 4-5%.

Nexstar Media Group

Nexstar Media Group, Inc. (NASDAQ:NXST) is a diversified media company producing and distributing engaging local and national news, sports and entertainment content across television and digital platforms in the United States. It is the largest television station owner-operator in the United States, with over 200 stations in 116 markets. Of its 200 stations, 155 are affiliated with the four national broadcast networks: CBS, Fox, NBC and ABC. 

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The company has raised its dividends every year since 2013. In its most recent dividend hike announcement on January 26, 2024, Nexstar Media increased the quarterly dividend by 25% to $1.69 per share, equal to an annual figure of $6.76 per share. Currently, the dividend yield on the stock stands at 4.29%.

Nexstar Media’s annual revenue (as of September 30, 2024) stood at $5.22 billion. According to the company's most recent earnings report, released on November 7, 2024, it generated Q3 2024 revenues of $1.37 billion and an EPS of $5.27, both below the consensus estimates.

Revenues from Advertising rose 22.2% to $622 million, led by a $135 million year-over-year rise in election-year political advertising, as reported by Benzinga. 

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Avista Corporation

Avista Corporation (NYSE:AVA) is an energy company that produces, transmits, distributes and operates other energy-related businesses. Avista Utilities provides electric service to 415,000 customers and natural gas to 378,000 customers.

Avista has raised its dividends consecutively for the last 22 years. According to its most recent dividend hike announcement on February 7, 2024, the company increased the quarterly dividend from $0.46 to $0.475 per share, which is equal to an annual figure of $1.90 per share. Currently, the dividend yield on the stock stands at 5.20%. 

The company's annual revenue (as of September 30, 2024) stood at $1.92 billion. In its most recent earnings release on November 7, it posted Q3 2024 revenues of $383.75 million, compared to the consensus of $389.29 million and an EPS of $0.23, compared to the consensus estimate of $0.13.

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ALLETE

ALLETE, Inc. (NYSE:ALE) is an energy company generating electricity from coal, biomass co-fired natural gas, hydroelectric power, wind and solar energy. The company provides regulated utility electric services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers and 10,000 water customers, as well as regulated utility electric services in northeastern Minnesota to approximately 150,000 retail customers and 14 nonaffiliated municipal customers. 

ALLETE has increased its dividends every year for the last 14 years. In its most recent dividend hike announcement on January 26, 2024, the company's Board of Directors raised the quarterly dividend by 4.10% to $0.705, equal to an annual figure of $2.82 per share. Currently, the dividend yield is 4.32%.

The company's annual revenue (as of September 30, 2024) stood at $1.57 billion. According to its most recent earnings release on October 30, ALLETE posted Q3 2024 revenues of $407.20 million, compared to the consensus of $391 million and an EPS of $0.78, compared to the consensus estimate of $0.93.

Nexstar Media, Avista and ALLETE are good choices for investors seeking reliable passive income. Their dividend yields of around 4-5% and long history of consistent hikes make them attractive to income-focused investors.

Check out this article by Benzinga for three more stocks offering high dividend yields. 

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This article Looking For Yields: Nexstar Media, Avista And ALLETE Are Consistent Moneymakers originally appeared on Benzinga.com