Why Cogent Communications, HP, And IDACORP Are Winners For Passive Income

Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Cogent Communications, HP, and IDACORP have rewarded shareholders for years and recently announced dividend increases. These companies currently offer dividend yields of up to 8%.

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Cogent Communications

Cogent Communications Holdings CCOI provides high-speed Internet access, private network, and data center colocation space services globally.

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Cogent Communications has raised its dividend consecutively for the last 51 years. In its most recent dividend announcement on May 8, the company's board increased the quarterly payout from $1.005 to $1.01 per share, equal to an annual figure of $4.04 per share. The dividend yield on the stock is 7.99%.

The company’s annual revenue as of March 31 stood at $1.02 billion. In its Q1 2025 earnings report on May 8, it posted revenues of $247.05 million, missing the consensus estimate of $250.81 million, while the per-share loss of $1.09 came in better than the consensus of $1.11 loss per share.

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HP

HP Inc. HPQ provides personal computing, printing, 3D printing, hybrid work, gaming, and other related technologies in the U.S. and internationally.

HP has increased its dividends consecutively for the last nine years. In its most recent dividend hike announcement on Nov. 26, the company raised the quarterly payout by 5% to $0.2894, equal to an annual figure of $1.16 per share. More recently, in its dividend announcement on Jan. 30, the company maintained the payout at the same level. Currently, the dividend yield on the stock stands at 4.10%.

The company's annual revenue as of Jan. 31 stood at $53.88 billion. In the company's Q1 2025 earnings release on Feb. 27, it posted revenues of $13.50 billion, better than the consensus estimate of $13.36 billion, and EPS of $0.74, in line with expectations.

Check out this article by Benzinga, which looks into HP’s recent short interest.

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IDACORP

IDACORP Inc. IDA engages in the generation, transmission, distribution, purchase, and sale of electric energy in the U.S.

IDACORP has raised its dividend every year since 2011. As per its most recent dividend hike announcement on Sept. 20, its board raised the quarterly payout from $0.83 to $0.86 per share, which is equal to an annual figure of $3.44 per share. More recently, in its dividend announcement on April 17, the company maintained the payout at the same level. The current dividend yield is 3.07%.

IDACORP’s annual revenue as of March 31 stood at $1.81 billion. In its Q1 2025 earnings report on May 1, the company posted EPS of $1.10 and revenues of $432.46 million, both figures above the consensus estimates.

Cogent Communications, HP, and IDACORP are good choices for investors seeking reliable passive income. Their dividend yields of up to 8% 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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