Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Merck, Black Hills, and Virtus Investment Partners have rewarded shareholders for years and recently announced dividend increases. These companies currently offer dividend yields of around 4-6%.

Merck

Merck (NYSE:MRK) is a healthcare company that manufactures pharmaceutical products to treat various conditions in many therapeutic areas, including cardiometabolic disease, cancer and infections. 

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Merck has raised its dividends every year for the last 14 years. According to its most recent dividend hike announcement on Nov. 19, the company increased the quarterly payout from $0.77 to $0.81 per share, equal to an annual figure of $3.24 per share. The current dividend yield on the stock is 4.09%. 

Merck’s annual revenue as of Dec. 31 stood at $64.17 billion. In its Q4 2024 earnings report on Feb. 4, it posted revenues of $15.62 billion and EPS of $1.72. Both figures beat the Street estimates.

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Black Hills

Black Hills Corp. (NYSE:BKH) operates as an electric and natural gas utility company in the U.S. 

Black Hills has raised its dividends every year for the last 55 years. In its most recent dividend hike announcement on Jan. 24, it increased the quarterly payout from $0.65 to $0.676 per share, which is equal to an annual figure of $2.70 per share. Currently, the dividend yield on the stock is 4.63%.

Black Hills’ annual revenue as of Dec. 31 stood at $2.13 billion. As per the company’s Q4 2024 earnings release on Feb. 5, it posted revenues of $597.10 million, missing the consensus of $944 million, while EPS of $1.37 came in above the consensus estimate of $1.34.

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Virtus Investment Partners

Virtus Investment Partners (NYSE:VRTS) is a publicly owned investment manager. The firm primarily provides its services to individual and institutional clients. 

Virtus has raised its dividends consecutively for the past seven years. In its most recent dividend hike announcement on Aug. 15, the company's board increased its quarterly payout by 18% to $2.25 per share, which is equal to $9 per share annually. More recently, in its dividend announcement on Feb. 27, the company maintained the payout at the same level. The current dividend yield on the stock is 5.95%.

Its annual revenue as of Dec. 31 stood at $902.82 million. In its most recent earnings release on Jan. 31, the company posted Q4 2024 revenues of $233.49 million and EPS of $7.50. Both figures came in above the consensus estimates.

Merck, Black Hills, and Virtus Investment Partners are good choices for investors seeking reliable passive income. Their dividend yields of around 4-6% and long history of consistent hikes make them attractive to income-focused investors.

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