PG - Want $1500 in Passive Income Per Year? Invest $19000 Into Each of These 3 Dividend Kings
2024-03-10 10:34:00 ET
Generating steady streams of passive income, no matter what the market is doing, is one of the simplest, low-stress ways to compound wealth over time. Investors regularly turn to companies with long track records of dividend raises. A particularly elite cohort is Dividend Kings , which have paid and raised their dividends for at least 50 consecutive years.
Supporting a gradually rising dividend payment requires earnings growth, a strong balance sheet, and the ability to endure downturns and recessions. Illinois Tool Works (NYSE: ITW) , Procter & Gamble (NYSE: PG) , and Coca-Cola (NYSE: KO) have these qualities in spades.
With an average yield of 2.63% among the three companies, investing $19,000 in each stock should produce $1,500 in passive income per year -- and likely more in subsequent years, considering these companies have raised their dividends every year for decades.
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Want $1,500 in Passive Income Per Year? Invest $19,000 Into Each of These 3 Dividend Kings