Investing in high-quality dividend stocks is a great way to generate passive income. The best ones can turn idle cash into an attractive and steadily rising income stream.

Brookfield Renewable (NYSE: BEPC)(NYSE: BEP), Realty Income (NYSE: O), and Verizon (NYSE: VZ) have been magnificent dividend stocks over the years by steadily increasing their high-yielding payouts. That should continue in 2024 (and beyond), making them ideal income stocks to buy right now.

Brookfield Renewable currently offers a 4.7% dividend yield. That's several times above the S 500's 1.5% dividend yield. It could turn $1,000 into $47 of annual dividend income at that rate compared to $15 from an S 500 index fund.

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Source Fool.com