Why Chevron, Essential Utilities, And Horace Mann Educators Are Winners For Passive Income

Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Chevron, Essential Utilities, and Horace Mann Educators have rewarded shareholders for years and recently announced dividend increases. These companies currently offer dividend yields of around 3% to 5%.

Chevron

Chevron Corp. CVX is an integrated energy company that produces crude oil, natural gas, and other essential products in the U.S. and internationally.

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Chevron has increased its dividends consecutively for the last 38 years. In its latest dividend hike announcement on Jan. 31, the board raised the quarterly payout by 5% to $1.71 per share, equal to an annual figure of $6.84 per share. More recently, in its quarterly earnings release on May 2, the company maintained the payout at the same level. Currently, the dividend yield on the stock is 5.03%.

The company’s annual revenue as of March 31 stood at $192.94 billion. In its Q1 2025 earnings report on May 2, it posted revenues of $47.61 billion, missing the consensus estimate of $48.08 billion, while EPS of $2.18 matched expectations.

Check out this article by Benzinga, which analyzes the surge in Chevron's options activity.

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Essential Utilities

Essential Utilities Inc. WTRG operates regulated utilities that provide water, wastewater, and natural gas services in the U.S.

Essential Utilities has increased its dividends every year for the last 33 years. In its most recent dividend hike announcement on July 31, it raised the quarterly payout by 6% to $0.3255 per share, equaling an annual figure of $1.302 per share. More recently, in its dividend announcement on Feb. 19, the company maintained the payout at the same level. The dividend yield on the stock is 3.42%.

The company's annual revenue as of March 31 stood at $2.26 billion. In its Q1 2025 earnings report on May 12, the company posted revenues of $783.63 million and EPS of $1.03, both beating the consensus estimates.

How is the market feeling about Essential Utilities? Check out this article by Benzinga to learn more.

See Also: Maximize saving for your retirement and cut down on taxes: Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation. 

Horace Mann Educators

Horace Mann Educators Corp. HMN is an insurance holding company, offering products primarily to educators and other employees of public schools and their families in the U.S. 

The company has raised its dividends consecutively for the last 15 years. According to its most recent dividend hike announcement on March 3, the company's board increased the quarterly payout by 3% to $0.35 per share, which is equal to an annual figure of $1.40 per share. More recently, in its dividend announcement on May 14, the company maintained the payout at the same level. Currently, the dividend yield is 3.23%.

Horace Mann Educators’ annual revenue as of March 31 stood at $1.57 billion. In its Q1 2025 earnings report on May 6, the company posted revenues of $416.40 million, missing the consensus estimate of $420.15 million, while EPS of $1.07 came in above the consensus of $0.94.

Chevron, Essential Utilities, and Horace Mann Educators are good choices for investors seeking reliable passive income. Their dividend yields of around 3% to 5% and long history of consistent hikes make them attractive to income-focused investors.

Interest Rates Are Falling, But These Yields Aren't Going Anywhere

Lower interest rates mean some investments won't yield what they did in months past, but you don't have to lose those gains. Certain private market real estate investments are giving retail investors the opportunity to capitalize on these high-yield opportunities.

Arrived Home's Private Credit Fund’s has historically paid an annualized dividend yield of 8.1%*, which provides access to a pool of short-term loans backed by residential real estate. The best part? Unlike other private credit funds, this one has a minimum investment of only $100. 

Looking for fractional real estate investment opportunities? The Benzinga Real Estate Screener features the latest offerings.

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