Want $1,000 in Dividend Income? Here's How Much You'd Have to Invest in Pfizer Stock.

Generating dividend income can be an excellent way to put your cash to work. It can provide you with an extra stream of cash flow to diversify your income and help you pay bills, or perhaps fund a big purchase or vacation in the future. And investing in a safe, high-yielding dividend stock can make the most of your money. That's why a stock like Pfizer (NYSE: PFE) can be particularly attractive.

Pfizer pays a quarterly dividend of $0.42, which amounts to $1.68 over the course of a full year. And with a share price of around $29, that puts its yield at around 5.83% -- more than four times what you would get with the average S 500 stock that yields just 1.4%. To collect $1,000 from Pfizer just in dividends, you would need to invest approximately $17,200. And over time, your dividend payments may climb higher; Pfizer has raised its payouts by 17% over the past five years.

Since its growth has stalled, the pharmaceutical has fallen out of favor with investors. Pfizer's COVID-related revenue has been falling, but the business is still in good shape. The company has been focusing on growth initiatives through acquisitions (including its large $43 billion purchase of cancer treatment company Seagen last year) and the development of its pipeline. By the end of the decade, it plans to add $25 billion in new revenue.

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Source Fool.com