It’s nice to have an income stream that comes in like clockwork, so consider these three first-class companies for consistent passive income.
1. Crescent Point Energy
Crescent Point Energy (TSX: CPG)(NYSE: CPG) set new production records in 2013. It realized average daily production of over 120,000 boe/d. This represented a 22% increase over its 2012 average daily production rate.
A conventional oil and gas producer, its assets are strategically concentrated in properties encompassing high quality, long life, operated, light and medium oil and natural gas reserves in Western Canada and the U.S. Crescent Point recently completed the acquisition of Saskatchewan Viking oil assets from Polar Star Canadian Oil and Gas. The acquired assets include over 2,800 boe/d of high-quality, high-netback production.
Crescent Point Energy confirmed that the dividend payable August 15, 2014, would be $0.23 per share. The company’s dividend yield is 6.10% and its five-year average dividend yield is 6.00%. Crescent Point’s dividend rate is $2.76.
2. Enerplus
Enerplus (TSX: ERF)(NYSE: ERF) had Q1 2014 production volumes increase by 5%, versus Q4 2013, averaging 98,821 boe/d. The increase was due to record production from the Marcellus.
The company’s U.S. natural gas area mainly consists of its non-operated Marcellus shale gas interests situated in northeastern Pennsylvania. Enerplus holds an interest in approximately 57,500 net acres in this area. In 2013, Enerplus achieved 9% growth in annual average production.
Enerplus pays monthly dividends from the cash flow generated from the sale of its oil and natural gas production. Its dividend yield is 4.20% and its dividend rate is $1.08. The company’s three-year average dividend growth rate is 14.61%. On July 24, 2014, Enerplus announced that a cash dividend of $0.09 per share will be payable on August 20, 2014.
3. Peyto Exploration & Development
Peyto Exploration & Development (TSX: PEY) was recognized as the ‘Producer of the Year’ by Oilweek magazine in 2013. Peyto engages in the exploration and development of high-quality gas properties in the Deep Basin of Alberta. The company has a 97% interest in nine processing facilities
The company set new production and reserves per share records in 2013. Its annual production increased 33% from 267 millions of cubic feet equivalent per day (MMcfe/d) in 2012 to 356 MMcfe/d in 2013. Its reserves per share increased 19%.
Peyto’s production increased 30% from 332 MMcfe/d (55,372 boe/d) in Q1 2013 to 433 MMcfe/d (72,209 boe/d) in Q1 2014.
Peyto Exploration & Development’s dividend yield is 3.20% and its dividend rate is $1.20. The company’s three-year average dividend growth rate is 45.71%.
Passive income is what happens to you while you’re doing other things. Get on with the rest of your life and let these income streams fill your trading account monthly.
