Want $500 in Dividend Income? Here's How Much You'd Have to Invest in Altria Stock
Altria (NYSE: MO) pays one of the most generous dividends on the stock market today. The tobacco giant has sent $32 billion to shareholders through these payments over the past five years, in fact, even as it spent aggressively on stock repurchases.
The dividend yield on the stock is extremely high, partly because the company commits to sending a large portion of annual earnings back to investors each year. But how much of an investment would it take to secure $500 of annual dividend income owning just Altria stock?
Altria shares yield just over 9% at today's prices. That means you'll need to own roughly $5,600 of the stock to achieve $500 of annual passive income. That investment would translate into roughly 128 shares of the business, each delivering $3.92 in yearly income.
Source Fool.com
