10 Dividend Zombies and Kings with Longest Dividend Payouts

4. UGI Corporation (NYSE:UGI)

Consecutive Years of Dividend Payments: 140

Another utility company that made it to our list of the best dividend zombies is UGI Corporation (NYSE:UGI). The natural gas and electric utility company delivers reliable, safe, and affordable energy to its consumers. It currently pays a quarterly dividend of $0.375 per share and carries an impressive dividend yield of 6.56%, as of June 20. The company has maintained an unbroken record of dividend payments for 140 years and has consistently increased its payouts for the past 37 years in a row.

In fiscal Q2 2024, UGI Corporation (NYSE:UGI)’s natural gas division achieved its highest second-quarter earnings, showing a 32% increase from the same period last year. In addition, significant progress was made in cost control efforts to enhance operational efficiency across the business. These outcomes highlight the resilience of its portfolio to provide long-term value to shareholders. For FY24, the company expects to achieve results that align with its adjusted EPS guidance range. It expects its EPS to be between $2.70 and $3.002  per share.

First Pacific Advisors mentioned UGI Corporation (NYSE:UGI) in its Q1 2024 investor letter. Here is what the firm has to say:

“UGI Corporation (NYSE:UGI) owns gas utilities and pipelines in Pennsylvania and West Virginia and the largest propane distribution businesses in the United States and Europe. Despite its disparate parts, UGI has increased consolidated earnings at a relatively steady high- single-digit rate while distributing excess cash through dividends. UGI’s share price has declined because of a combination of poor execution and too much debt at AmeriGas, UGI’s U.S. propane business. On August 30, 2023 UGI announced a review of strategic alternatives. We believe the company’s stock price is attractive at less than 10x earnings, and we have been incrementally adding to the Fund’s position.”

At the end of March 2024, 29 hedge funds in Insider Monkey’s database owned stakes in UGI Corporation (NYSE:UGI), down from 33 a quarter earlier. These stakes have a total value of nearly $180 million. Citadel Investment Group was one of the company’s leading stakeholders in Q1. The hedge fund also presented a bullish stance on the company, increasing its UGI position by 154% during the quarter.