10 Utility Dividend Stocks with Consecutive Dividend Increases

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Its no secret that dividend increases drive total returns.  Increasing the dividend maintains the yield as the stock price increases.  Alternatively if a stock’s yield is increasing without the stock price rising investors buy up the stock driving ROI for shareholders.

Utility stocks were one of the most favored investments during the chaotic market conditions we faced in 2010 and 2011.  In the last few months we have see the market start to recover and investors have shifted their focus to other growth stocks.  That has left many of these utility stocks trading at a good value.  Each of these stocks has raised its dividend for 6 years or more and has a dividend yield over 3%.

Edison International (EIX)

Edison International is an electric utility company that has a dividend yield of 3% and has increased its dividend for 7 years.  The company has a 5 year dividend growth rate of 3.16% and a payout ratio of 43%. The company’s next ex-dividend date is March 28th, 2012.

Alliant Energy Corp (LNT)

Alliant is an electric utility company that has a dividend yield of 4.6% and has increased its dividend for 8 consecutive years.  LNT has a 5 year dividend growth rate of 8.5% and a payout ratio of 62%.  The company’s stock is up over 8% in the last 12 months and its next ex-dividend date will be in April, 2012.

South Jersey Industries (SJI)

South Jersey Industries is a gas utility company that has a dividend yield of 3% and a 5 year dividend growth rate of 10.2%.  The company has increased its dividend for 8 consecutive years and has a payout ratio of 50%.  The company’s 3 year net income growth rate is 5.1%.  Their next ex-dividend date is March 7th, 2012.

Chesapeake Utilities Corporation (CPK)

Chesapeake Utilities is a gas company that has a dividend yield of 3.4% and has increased its dividend for 8 consecutive years.  CPK has a 3 year net income growth rate of 25%  and a payout ratio of 46%.  The stock is mostly even over the last 12 months.

Dominion Resources (D)

Dominion is an electric utility company that has a dividend yield of 3.9% and has increased its dividend for 8 consecutive years. The company has a 5 year dividend growth rate of 7.3% and a payout ratio of 80%.  Dominion just had its ex-dividend date last week.

Wisconsin Energy Corp (WEC)

Wisconsin Energy has a dividend yield of 3.16% and has increased its dividend for 8 consecutive years.  The electric company has a large 5 year dividend growth rate of 17.7% and a low payout ratio of 47%.  The stock is up almost 20% in the last year.  Its next ex-dividend date will be in May.

PG&E Corporation (PCG)

PG&E Corporation an electric utility company that has a dividend yield of 4.33% and has increased its dividend for the last 6 years.  It has a 5 year dividend growth rate of 6.6% and a payout ratio of 86%.  The stock is down about 9% over the last year. The company’s next ex-dividend date is March 28th, 2012.

Xcel Energy (XEL)

Xcel is an electric utility company that has a dividend yield of 3.9% and has incraesed its dividend for 8 years.  It has a 5 year dividend growth rate of 3.1% and a payout ratio of 60%.  The company has increased its net income by 9% over the last 3 years and has an ex-dividend date coming up on March 20th.

Delta Natural Gas (DGAS)

Delta Natural Gas is of course a gas utility company that has a dividend yield of 3.7% and has increased its dividend for the last 7 consecutive years.  DGAS has a 5 year dividend growth rate of 2.5% and a payout ratio of 80%.  The stock is up over 20% in the last 12 months and just recently had an ex-dividend date last week.

AGL Resources (GAS)

AGL is a gas utility company that has a dividend yield of 3.4% and a 5 year dividend growth rate of 5.1%.  It has a payout ratio of 89% and has increased its dividend for 8 consecutive years.  AGL is down 5.7% year to date.