Dividend stocks can be a lucrative source of passive income. Several high-quality companies pay high-yielding dividends. That enables investors to generate more income for every dollar they invest.
For example, the following five high-yielding dividend stocks could turn a $5,000 investment into more than $300 of annual passive income from dividends:
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|
Dividend Stock |
Investment |
Current Yield |
Annual Dividend Income |
|---|---|---|---|
|
Enbridge (NYSE: ENB) |
$1,000.00 |
6.22% |
$62.20 |
|
Vici Properties (NYSE: VICI) |
$1,000.00 |
5.51% |
$55.10 |
|
Verizon (NYSE: VZ) |
$1,000.00 |
6.69% |
$66.90 |
|
Whirlpool (NYSE: WHR) |
$1,000.00 |
6.33% |
$63.30 |
|
W.P. Carey (NYSE: WPC) |
$1,000.00 |
6.17% |
$61.70 |
|
Total |
$5,000.00 |
6.18% |
$309.20 |
Data source: Google Finance.
For comparison, the same investment in an S&P 500 Index Fund would produce only about $60 of annual dividend income, given the broad market index’s current yield of around 1.2%.
Here’s a look at what makes these companies ideal for those seeking to collect passive income.
Enbridge is a leading North American pipeline and utility operator. The company’s businesses produce very stable cash flow backed by long-term, fixed-rate contracts and government-regulated rate structures. It pays 60% to 70% of its steady cash flow in dividends.
The energy company reinvests the rest into expanding its infrastructure network. It currently has tens of billions of dollars in capital projects under construction that will enter commercial service through the end of the decade. That gives it a lot of visibility into its ability to grow its cash flow in the future. Enbridge’s growing cash flow should give it more fuel to increase its dividend. The company has raised its payout for 29 straight years, one of the longest streaks in the energy sector.
Vici Properties is a leading real estate investment trust (REIT) focused on experiential properties in the gaming, leisure, and hospitality sectors. It signs long-term net leases for these properties with high-quality operating companies. Those leases supply Vici Properties with very stable rental income that steadily rises with inflation-linked rental rate increases.
The REIT pays about 75% of its stable cash flow in dividends, retaining the rest to help fund new investments. It will acquire experiential properties and provide funding to companies developing new properties, many of which it can acquire in the future. Those investments grow its income, enabling the REIT to increase its dividend. It has raised its payout in all seven years since its formation, growing it at a peer-leading 7% annual rate.
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