Dividend Contenders List: Top 15

5. Edison International (NYSE:EIX)

Dividend Yield as of March 12: 5.97%

Edison International (NYSE:EIX) is a California-based public utility company. The company generates electricity from multiple sources, including natural gas, nuclear energy, and renewables. However, it faces challenges this year due to lawsuits related to wildfire damages, which have introduced uncertainty and potential risks for investors.

Despite these legal issues, Edison International (NYSE:EIX) has continued to grow its dividend, backed by a strong cash position. At the end of the most recent quarter, it held approximately $200 million in cash and cash equivalents. In addition, its operating cash flow rose to $3.8 billion in the first nine months of the year, compared to $2.5 billion during the same period the previous year.

In December 2024, Edison International (NYSE:EIX) announced a 6.1% increase in its quarterly dividend, raising it to $0.8275 per share. Through this increase, the company stretched its dividend growth streak to 21 years, which makes EIX one of the best stocks on our dividend contenders list. As of March 12, the stock has a dividend yield of 5.97%.