When searching for reliable dividend-paying stocks, it’s important to choose companies that have demonstrated their ability to not only maintain but also grow dividend payments, even during tough economic times. Highlighted below are three dividend-paying companies that continued to increase their dividends through the 2008 financial crisis and have increased them every year since.
Be sure to read to the end to check out two other high-yield opportunities with yields as high as 13%.
Realty Income Corp
Realty Income Corp (NYSE: O), an S&P 500 company, is a real estate partner to the world’s leading companies. Founded in 1969, the company invests in diversified commercial real estate and has a portfolio of over 15,450 properties across the U.S., the U.K., and six other countries in Europe. Known as “The Monthly Dividend Company,” Realty Income’s mission is to deliver stockholders dependable monthly dividends that grow over time.
During the last recession, Realty Income increased its dividends four times in 2007, five times in 2008 and four more times in 2009. The company’s most recent dividend increase was announced last week, increasing from $0.2570 per share to $0.2625 per share. With a current dividend yield of 5.73% and a 5-year dividend growth rate (CAGR) of 3.55%, Realty Income has increased its dividend for 26 consecutive years.
Enterprise Products Partners LP
Enterprise Products Partners L.P. (NYSE: EPD) provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products. Between 2005 and 2019, Enterprise Products Partners increased its dividend every quarter, even throughout the 2008 financial crisis. The company raised its dividend from $0.50 per share to $0.515 per share in the first quarter of 2024.
With a current dividend yield of 7.19% and a 5-year dividend growth rate (CAGR) of 3.19%, Enterprise Products Partners has increased its dividend for 25 consecutive years.
NNN REIT Inc.
NNN REIT Inc (NYSE: NNN) invests primarily in high-quality retail properties subject generally to long-term, net leases. As of December 31, 2023, the company owned 3,532 properties in 49 states with a gross leasable area of approximately 36.0 million square feet and a weighted average remaining lease term of 10.1 years.
NNN REIT increased its quarterly dividend in 2007 and 2008. While the quarterly dividend remained flat in 2009, its annual payout was still higher than in 2008. The company began increasing at least once per year again in 2010 and has continued to do so since. With a current dividend yield of 5.36% and a 5-year dividend growth rate (CAGR) of 2.47%, NNN REIT has increased its dividend for 34 consecutive years.
