Dividend Kings List: Top 15

4. Black Hills Corporation (NYSE:BKH)

Dividend Yield as of December 3: 4.14%

Black Hills Corporation (NYSE:BKH) is a South Dakota-based natural gas distribution company. It has benefitted a lot recently as the areas where the company operates are experiencing population growth at a rate roughly three times higher than the national average in the United States. This influx of customers brings a dual advantage, contributing to increased revenue while also justifying the need for higher capital expenditures. Currently, the company has outlined a five-year investment plan valued at $4.3 billion, a significant figure compared to its market capitalization of $4.5 billion. The stock is up by more than 14% since the start of 2024.

In the third quarter of 2024, Black Hills Corporation (NYSE:BKH) reported revenue of $401.6 million, which, though, fell by 1.4% from the same period last year, surpassed analysts’ consensus by $7.92 million. The company’s 260-mile Ready Wyoming transmission project is progressing as planned, aiming to enhance system capacity and improve power market access. Additionally, efforts continue to secure new renewable energy resources in Colorado and establish dispatchable, baseload generation in South Dakota. For over a decade, its innovative service model has effectively met the demands of data centers. Looking ahead, the company is preparing to support Meta’s upcoming AI data center in Cheyenne, Wyoming, scheduled for completion by 2026.

Black Hills Corporation (NYSE:BKH) is one of the best dividend kings on our list with 54 consecutive years of dividend growth. The company pays a quarterly dividend of $0.65 per share for an attractive dividend yield of 4.14%.

According to Insider Monkey’s database of Q3 2024, 25 hedge funds owned stakes in Black Hills Corporation (NYSE:BKH), growing from 22 in the previous quarter. The consolidated value of these stakes is nearly $217 million. With nearly 1.6 million shares, Zimmer Partners was the company’s leading stakeholder in Q3.