Black Hills Is a Dividend King Utility With a 3.8% Yield and a Growth Catalyst

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Summary · why it matters

Black Hills, a Dividend King that has raised its dividend annually for over 50 years, offers a 3.8% yield compared to the 2.6% utility average. The company plans to merge with Northwestern Energy, which would nearly double its size and lift projected combined earnings growth to 5% to 7% annually. Electricity demand is expected to surge 60% between 2025 and 2045, creating a favorable backdrop for utilities. While larger peers like NextEra Energy draw attention, Black Hills remains an under-the-radar income play with a reliable dividend and a growth catalyst.