IIPR - Want $200 in Monthly Dividends? Invest $36000 in These 3 Stocks
2024-05-24 05:49:00 ET
Dividend stocks normally pay you every quarter, which isn't optimal if you want to generate consistent monthly income from your investments. But you can get around that by investing in stocks that pay at different times during the quarter.
Three high-yielding stocks that can provide you with some excellent dividend income are Innovative Industrial Properties (NYSE: IIPR) , AT&T (NYSE: T) , and Enbridge (NYSE: ENB) . Since these stocks pay dividends in different months, investing in all three can result in monthly income for your portfolio. Here's how much you'll want to invest in each of these stocks to create a monthly dividend stream of $200 per month.
Innovative Industrial Properties (IIP) is a real estate investment trust that focuses on the cannabis industry . While investing in cannabis stocks can be risky, IIP makes for a bit of a safer option as it isn't involved in growing or selling cannabis itself. It does, however, lease out properties to growers. And its financials have been fairly sound.
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Want $200 in Monthly Dividends? Invest $36,000 in These 3 Stocks