ENB - Want $5000 in Annual Dividend Income? Invest in These 3 Stocks
2023-06-29 06:52:00 ET
Whether you're saving for retirement, want to set aside money for travel, or just want to give yourself a raise, dividend stocks can help give you some extra income to accomplish those goals. Plus, by investing in quality stocks, you can also potentially profit from their rising share prices. If you have a lot saved up and want to earn $5,000 in annual dividend income, you can get that by investing approximately $85,000 in the following three stocks: Organon & Co. (NYSE: OGN) , Enbridge (NYSE: ENB) , and Dominion Energy (NYSE: D) .
Organon spun off from Merck & Co. in 2021. The company generates most of its revenue from established brands, including cholesterol drug Atozet and asthma medication Singulair. That segment accounts for two-thirds of the company's revenue, followed by women's health, which brings in around one-quarter of sales. The company's biosimilar business generates the remainder.
Combined, the segments give the company some good long-term stability. And although the business is by no means a growth beast, it did generate 3% revenue growth during the first three months of the year when factoring out the impact of foreign exchange. And with a diluted per-share profit of $0.69, that gives Organon plenty of room for it to cover its quarterly dividend payment of $0.28.
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Want $5,000 in Annual Dividend Income? Invest in These 3 Stocks