Want $1,000 in Passive Income? 2 High-Dividend Stocks to Snap Up.
Most consumer stocks might not draw as much attention as the hottest tech companies. But many compensate for this with long-term income potential.
Some consumer stocks have increased their dividends often enough to achieve Dividend Aristocrat status. Some also pay well above the average S&P 500 dividend yield of 1.5%, and offer the promise of future increases. Hence, investors looking for generous, growing income streams in the consumer sector might want to consider Target (NYSE: TGT) and Walgreens Boots Alliance (NASDAQ: WBA), which generate about $500 each of yearly passive income with an approximate $29,400 investment.
Although retailing remains a competitive business, Target has developed an edge with dividend investors. It recently approved a 20% dividend increase, and at its current annual level of $4.32 per share, it yields about 2.6%. Moreover, with 51 consecutive yearly dividend increases, it has moved beyond Aristocrat status to become one of the few Dividend Kings. At this price, buying 116 shares for just under $19,400 would take an investor just beyond halfway to $1,000 in annual passive income .
Source Fool.com
