Decades Of Dividend Growth & Yields Of Over 3%: TriCo Bancshares, Prologis, And Paychex

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Companies with a well-established history of consistently growing dividends often appeal to income-focused investors. TriCo Bancshares, Prologis, and Paychex have rewarded their shareholders with growing payouts over many years and have recently announced dividend hikes. Furthermore, these companies provide solid dividend yields of over 3%.

The total net worth of these five entrepreneurs is $223 billion – they all believe in one company where you can lend money to companies at 7-9% APY.

TriCo Bancshares

TriCo Bancshares (NASDAQ:TCBK) is a bank holding company for Tri Counties Bank. It provides a breadth of personal, small business, and commercial financial services, including accepting demand, savings, and time deposits and making small business, commercial, real estate, and consumer loans. It also offers a range of Treasury Management Services and other customary banking services, including safe deposit boxes at some branches.

TriCo Bancshares has consistently paid dividends since 1989 and raised them every year for the past 11 years. According to the company's most recent dividend announcement on Feb. 26, its board of directors increased its quarterly dividend from $0.30 to $0.33 per share, equating to $1.32 annually. The current yield on the dividend stands at 3.18%.

The company's annual revenue (as of March 31) is $402.80 million. Its upcoming quarterly earnings report is scheduled for July 29. Wall Street analysts estimate a quarterly EPS of $0.79 and revenue of $98.10 million.

Prologis

Prologis (NYSE:PLD) is the global leader in logistics real estate, focusing on high-barrier, high-growth markets. Formed by the June 2011 merger of AMB Property and Prologis Trust, the company develops, acquires, and operates around 1.2 billion square feet of high-quality industrial and logistics facilities worldwide.

Prologis has increased its dividends consecutively since 2013, with the most recent hike announced in February. As per Prologis' Feb. 22 announcement, its board of directors approved a quarterly dividend hike from $0.87 to $0.96 per share, equaling $3.84 annually. Currently, the company's dividend yield is 3.20%. Like Prologis, these industrial REITs are also known for their high yields and track records of dividend growth.

Prologis' annual revenue (as of March 31) is $8.20 billion. According to the company’s most recent Q1 2024 earnings report, announced on April 17, it generated revenues of $1.96 billion and EPS of $0.63. Both were well above the Street estimates.



The company is scheduled to report its Q2 2024 earnings on July 17. Consensus estimates for revenue and EPS currently stand at $1.90 billion and $1.33, respectively.

Can you guess which type of investments Morgan Stanley says will reach $2.7 trillion by 2027? It even offers up to 20% APY potential to accredited investors.

Paychex

Paychex, Inc. (NASDAQ:PAYX) provides payroll, human capital management, and insurance solutions to small and mid-size clients, primarily in the U.S., Europe, and India. It offers payroll processing services, tax administration services, employee payment services, HR solutions, and retirement services administration.

Paychex has raised its dividends every year for the last 13 years. Its most recently announced dividend increase was in May. According to the company's dividend announcement on May 1, its board of directors approved a 10% dividend hike to $0.98 per share, or $3.92 annualized, with a yield of 3.31%. Similar to Paychex, these two companies also have a strong history of maintaining and growing dividends for many years and have recently announced dividend hikes.

As of March 31, Paychex's annual revenue stood at $5.30 billion. Its upcoming quarterly earnings report is scheduled for Sept. 25, with Wall Street analysts expecting an EPS/revenue of $1.40/$1.32 billion.

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