Investing in dividend stocks can be a great way to generate cash flow for your portfolio without having to sell your shares. You can continue to benefit from rising stock prices while padding those returns with some recurring revenue along the way. But investors need to be careful when choosing which income stocks to invest in these days. The COVID-19 pandemic has rocked many businesses, forcing them to cut or suspend their payouts.
However, the list of stocks that are safe, cash-generating investments includes Innovative Industrial Properties (NYSE: IIPR) , Public Storage (NYSE: PSA) , and Clorox (NYSE: CLX) . They all sport higher dividend yields than the average stock on the S&P 500 , which yields about 1.6%, and are great buys that could perform well this year.
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For further details see:
The 3 Best Dividend Stocks to Buy for 2021