2 Dividend Stocks to Boost Your Passive Income

No one says "no" to some passive income on the side, but finding ways to generate some can be tricky. That's why many investors turn to the stock market and choose to target dividend-paying companies. Besides the passive income potential, dividend stocks have historically outperformed their non-dividend-paying peers.

Focusing on these types of companies is, therefore, an excellent strategy. But for it to work, it is essential -- as always -- to choose wisely. Let's consider two strong dividend stocks ideal for the job: Novartis (NYSE: NVS) and Apple (NASDAQ: AAPL).

Pharma giant Novartis currently offers a juicy yield of 3.98% along with a reasonable cash payout ratio of 65%. Backing the Switzerland-based drugmaker's dividend is a strong business built to last. In 2021, the company had 14 blockbuster products, most of which saw their revenue increase compared to 2020. In the first quarter, Novartis' sales increased by a decent 5% year over year on a constant currency basis to $12.5 billion.

Source Fool.com