15 Utility Stocks with Highest Dividends

12. Duke Energy Corporation (NYSE:DUK)

Dividend Yield as of April 7: 3.23%

Duke Energy Corporation (NYSE:DUK) engages in the distribution of natural gas and energy-related services. The company owns and operates a diverse mix of regulated power plants – including hydro, coal, nuclear, natural gas, solar, and battery storage.

Duke Energy Corporation (NYSE:DUK) announced on March 26 that it had secured approval from the Public Service Commission of South ‌Carolina for its plan to build a new natural gas-fired ​generation plant in Anderson County. The commission’s green light follows a thorough and very public process that included a public hearing in Anderson.

Construction on the project is set to begin in summer 2027, with the plant expected to be fully operational by early 2031. The facility is estimated to generate 2,200 jobs during the construction phase, including around 746 jobs within Anderson County itself. Moreover, the project is expected to generate an annual ​statewide economic ​impact ⁠of about $84 million once operational.

Tim Pearson, Duke Energy South Carolina President, commented:

“We appreciate the commission’s recognition that the Anderson County combined cycle natural gas power plant is the right resource at the right time at the right site. Adding proven new natural gas technology to the electric grid acknowledges and responds to the efforts of state leaders to address tremendous electricity generation needs as part of a reliable and diverse energy mix that includes new and existing nuclear technology, renewables, battery storage, additional natural gas and energy efficiency programs.”

Duke Energy Corporation (NYSE:DUK) recently outlined a $16 billion increase in its 5-year capital plan to $103 billion, calling it the ‘largest fully regulated capital plan in the industry’.