BNS - Want Decades of Passive Income? 3 Stocks to Buy Right Now
2024-05-22 08:30:00 ET
A consistent stream of passive income is likely what you'll be looking for if you are retired. But you'll want to make sure that the dividends you're collecting are going to keep going for decades, which is exactly why you should take a look at T. Rowe Price (NASDAQ: TROW) , Bank of Nova Scotia (NYSE: BNS) , and Agree Realty (NYSE: ADC) right now.
Most investors will probably be familiar with the name T. Rowe Price given that the company operates one of the largest mutual fund families on Wall Street. It also offers other financial services. But the real key is that customers don't like to move from one asset manager to another, which makes the assets under management (AUM) at T. Rowe Price fairly sticky.
The company charges management fees for its services, so its business is kind of annuity-like in nature. That helps explain why T. Rowe Price has been able to increase its dividend annually for an impressive 38 consecutive years. The yield today is an attractive 4.2%.
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Want Decades of Passive Income? 3 Stocks to Buy Right Now