Why Agree Realty, LCI Industries, And Allete Are Winners For Passive Income

David Kirakosyan

Mon, Apr 28, 2025, 9:39 AM 3 min read

Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Agree Realty, LCI Industries, and Allete have rewarded shareholders for years and recently announced dividend increases. These companies currently offer dividend yields of up to nearly 6%.

Agree Realty

Agree Realty (NYSE:ADC) is a real estate investment trust that acquires and develops properties net leased to industry-leading, omnichannel retail tenants.

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Agree Realty has increased its dividends consecutively for the last 12 years. In its most recent dividend announcement on April 10, it raised the monthly payout from $0.253 to $0.256 per share, equal to an annual figure of $3.072 per share. The dividend yield on the stock currently stands at 3.88%.

Agree Realty’s annual revenue as of Dec. 31 stood at $617.10 million. According to its Q1 2025 earnings release on April 22, the company posted revenues of $169.16 million and AFFO of $1.06. Both figures came in above the consensus estimates.

If you invested $10,000 in Agree Realty stock 10 years ago, how much would you have now? Check out this article by Benzinga to learn more.

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LCI Industries

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

LCI Industries has increased dividends every year for the last nine years. According to its most recent dividend hike announcement on Nov. 14, 2024, the company's board raised the quarterly payout from $1.05 to $1.15 per share, equal to an annual figure of $4.60 per share. More recently, in its dividend announcement on Feb. 19, the company maintained the payout at the same level. The current dividend yield on the stock is 5.83%.

The company’s annual revenue as of Dec. 31 stood at $3.74 billion. In its Q4 2024 earnings release on Feb. 11, it posted revenues of $803.14 million and EPS of $0.37, both above the consensus estimates.

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Allete

Allete (NYSE:ALE) operates as an energy company in two segments, Regulated Operations and Allete Clean Energy. It generates electricity from coal-fired, biomass co-fired/natural gas, hydro, wind, and solar.