Why First Merchants, Philip Morris, And Alliant Energy Are Winners For Passive Income

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Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. First Merchants, Philip Morris, and Alliant Energy have rewarded shareholders for years and recently announced dividend increases. These companies currently offer dividend yields of over 3%.

First Merchants

First Merchants Corp. (NASDAQ:FRME) is a financial holding company that owns First Merchants Bank, which provides a variety of financial services, including commercial and consumer banking, wealth management, and mortgage lending.

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The company has increased its dividends every year for the last 13 years. In its most recent dividend announcement on May 16, the board raised the quarterly payout from $0.35 to $0.36 per share, equaling an annual figure of $1.44 per share. The current dividend yield is 3.88%.

First Merchants’ annual revenue as of June 30 stood at $637.34 million. The company on July 23 posted Q2 2025 revenues of $164.32 million, missing the consensus estimate of $172.13 million, while EPS of $0.98 came in above the consensus of $0.94.

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Philip Morris

Philip Morris International Inc. (NYSE:PM) is a multinational tobacco company that offers cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products under the IQOS and ZYN brands.

Philip Morris has raised its dividends consecutively for the past 17 years. In its most recent dividend hike announcement on Sept. 12, it increased the quarterly payout from $1.30 to $1.35 per share, equal to an annual figure of $5.40 per share. More recently, in its dividend announcement on June 13, the company maintained the payout at the same level. Currently, the dividend yield on the stock stands at 3.21%.

The company's annual revenue as of June 30 stood at $39.06 billion. The company on July 22 posted Q2 2025 revenues of $10.14 billion, below the consensus estimate of $0.32 billion, while EPS of $1.91 came in above the consensus of $1.86.

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Alliant Energy

Alliant Energy Corp. (NASDAQ:LNT) provides regulated electric and natural gas services in the U.S.

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The company has increased its dividends every year for the last 21 years. In its most recent dividend hike announcement on Jan. 17, the company raised the quarterly payout from $0.48 to $0.5075 per share, equaling an annual figure of $2.03 per share. More recently, in its dividend announcement on July 18, the company maintained the payout at the same level. Currently, the dividend yield on the stock is 3.07%.

Alliant Energy's annual revenue as of March 31 stood at $4.08 billion. The company on Aug. 7 posted Q2 2025 revenues of $961 million, below the consensus estimate of $977.15 million, while EPS of $0.68 beat the consensus of $0.63.

First Merchants, Philip Morris, and Alliant Energy are good choices for investors seeking reliable passive income. Their dividend yields of over 3% and long history of consistent hikes make them attractive to income-focused investors.

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This article Why First Merchants, Philip Morris, And Alliant Energy Are Winners For Passive Income originally appeared on Benzinga.com

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