Why LCI Industries, Hormel Foods, And Genuine Parts Are Winners For Passive Income

Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. LCI Industries, Hormel Foods, and Genuine Parts have rewarded shareholders for years and recently announced dividend increases. These companies currently offer dividend yields of around 3% to 5%.

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LCI Industries

LCI Industries LCII manufactures and supplies engineered components for the manufacturers of recreational vehicles and adjacent industries in the U.S. and internationally.

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LCI Industries has raised dividends every year for the last nine years. In its most recent dividend hike announcement on Nov. 14, the company increased the quarterly payout from $1.05 to $1.15 per share, equaling an annual figure of $4.60 per share. More recently, in its May 15 dividend announcement, the company kept the payout unchanged at that level. Currently, the dividend yield on the stock is 5.22%.

The company's annual revenue as of March 31 stood at $3.82 billion. In its Q1 2025 earnings release on May 6, it posted revenues of $1.05 billion and EPS of $2.19, both beating the consensus estimates.

Check out this article by Benzinga for four analysts' insights on LCI Industries.

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Hormel Foods

Hormel Foods Corp. HRL develops, processes, and distributes various meat, nuts, and other food products to foodservice, convenience store, and commercial customers in the U.S. and internationally.

Hormel Foods has raised its dividends consecutively for the last 59 years. In its most recent dividend hike announcement on Nov. 25, it increased the quarterly payout by 3% to $0.29 per share, equal to an annual figure of $1.16 per share. More recently, in its dividend announcement on May 19, the company maintained the payout at the same level. Currently, the dividend yield is 3.76%.

Hormel Foods’ annual revenue as of April 30 stood at $11.92 billion. According to its latest earnings release on May 29, the company posted Q2 2025  revenues of $2.90 billion, in line with expectations, while EPS of $0.35 came in above the consensus of $0.34.

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Genuine Parts

Genuine Parts Co. GPC distributes automotive and industrial replacement parts.

Genuine Parts has increased its dividends every year for the last 69 years. In its most recent dividend hike announcement on Feb. 18, the company raised the quarterly payout by 3% to $1.03 per share, which is equal to an annual figure of $4.12 per share. More recently, in its dividend announcement on April 29, the company maintained the payout at the same level. The dividend yield on the stock currently stands at 3.23%.

Genuine Parts' annual revenue as of March 31 stood at $23.57 billion. As per its Q1 2025 earnings release on April 22, the company posted revenues of $5.87 billion and EPS of $1.75, both coming in above the consensus estimates.

LCI Industries, Hormel Foods, and Genuine Parts 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.

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

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

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