For those who want the added bonus of safe annual income on top of their investments in the stocks of their favored companies, there is a panoply of selections. 

We screened our 24/7 Wall St. dividend equity research database, looking for stocks that have a good track record of consistently paying dividends, and we found a collection of companies that, combined, can generate over $1,000 a year in passive annual income if you invest just $10,000 in each stock at the time of this writing:

Whirlpool Corporation 

• Stock #1: Whirlpool Corporation (NYSE: WHR)
• Yield: 6.59%
• Shares for $10,000: 92
• Annual Passive Income: ~$659.00

When it comes to the post-World War II American lifestyle, large home appliances, such as refrigerators and laundry machines, became a symbol of industrialized world luxury and convenience. Founded over a hundred years ago in 1911, Benton Harbor, MI based Whirlpool Corporation has maintained its status at the forefront of the American-made appliance sector for the better part of the 20th century through to the present.

As for the safety of Whirlpool’s dividends – management has been taking a savvy, proactive approach towards dealing with market conditions in order to protect its dividends for shareholders. For example, the company announced in late February 2024 that due to consistently high prevailing interest rates, it had begun reducing its debt-to-earnings ratio from 3.6% to a 2.0% target by 2026. It also announced a simplification overhaul of its infrastructure in order to cut costs. Over the last 13 years, Whirlpool has increased its dividend payout 9 times. Measures such as these, which investors often are glad to learn, have also resonated with the general public’s perception. 

For the past 14 consecutive years, Whirlpool has been listed in the Fortune “World’s Most Admired Companies” list, which ranks companies by product quality, service efficiency and personality, and other criteria.

Consolidated Edison

• Stock #2: Consolidated Edison (NYSE: ED) 
• Yield: 3.70%
• Shares for $10,000: 111
• Annual Passive Income: ~$370.00

One of the reasons that Frank Sinatra referred to New York City as, “The City That Never Sleeps” in his classic hit song, “New York, New York” was because of the 24/7 neon billboards and other lights that glitter throughout Manhattan, in addition to its subway system, which never shuts down for the night. Neither of these would exist were it not for Consolidated Edison. 

As one of the oldest utility companies in the US, Con Ed’s history played an important role in the development of New York as a global center for commerce, trade, and politics. Beginning as the New York Gas Light Company in 1823, it quickly went public on the NYSE and expanded under the infamous Boss Tweed’s Tammany Hall political machine. He subsequently consolidated six other gas companies (hence the source of “Consolidated”) and also acquired The New York Steam Company. 

Today, Consolidated Edison supplies electricity, natural gas, and steam power (the largest steam power system in the US) throughout New York State and New Jersey. It is the fourth largest public US utility by revenue, and has withstood catastrophes like the 9-11 Twin Towers attack and Hurricane Sandy and continued to come back strongly.

From an investor perspective, Consolidated Edison has increased its dividend for 50 consecutive years, certainly a comforting proof of enduring reliability.

J.M. Smucker Company

• Stock #3: J.M. Smucker Company (NYSE: SJM)
• Yield: 3.53%
• Shares for $10,000: 86
• Annual Passive Income: ~$353.00

According to USA Today, the #2 highest rated 2024 Super Bowl TV commercial was “The DunKings”, featuring a hilarious dance routine by Ben Affleck, a flustered Jennifer Lopez, an embarrassed Matt Damon, and a deadpan Tom Brady. Dunkin’ Donuts coffee got a big public relations boost, which greatly benefited Dunkin’ Donuts’ coffee supplier, the J.M. Smucker Company.

From its headquarters in Orville, OH, The J.M. Smucker Company has built a $12 billion packaged foods goliath that has quietly acquired many popular food and beverage brands in the US, Canada, and abroad. 

Joining the NYSE in 1959, Smucker would continue to expand its product line and built packing factories in other locations, such as Tennessee, California, and Oregon. The latter half of the 20th century would see Smucker go on a very successful acquisition streak, in which many beloved American food and beverage brands would seamlessly be added under the SJM umbrella with little fanfare and notice by the public at large. A partial list among those brand names, apart from the aforementioned Dunkin’ Donuts coffee, includes:

• Knudsen’s and Sons (fruit juices)
• Jif (peanut butter)
• Crisco (cooking oils)
• Pillsbury (baking products and baked goods – sold in 2018)
• Hungry Jack (maple syrup – sold in 2018)
• Borden (dairy products)
• Knott’s Berry Farm (food division, not the theme park or restaurants)
• Folger’s (coffee)
• Carnation (milk products)
• Bustelo (espresso coffee)
• Wesson (cooking oil)
• Hostess Brands (baked goods)

For investors, SJM has an impressive dividend history of increases for 27 consecutive years. From a capital appreciation perspective, SJM still carries hefty upside potential, especially if the company’s double-digit prognostications for its Pet division are accurate. 

 

Name:	Yield:	Annual Dividend Total:
Whirlpool Corporation (NYSE: WHR)	6.59%	$  659.00
Consolidated Edison (NYSE: ED)	3.70%	$  370.00
J.M. Smucker Company (NYSE: SJM)	3.53%	$  353.00
Total:		$1,412.00

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