3 High-Yield Dividend Stocks That Are Passive Income Machines
The stock market rebound continued on Wednesday after Wall Street acted favorably due to the Bureau of Labor Statistics' July Consumer Price Index reading. The Nasdaq Composite is now down less than 20% from its all-time high, while the S&P 500 is down just 12% from its all-time high.
While the rebound feels good, it's still important to focus on quality businesses that you understand. For income investors, the core objective is to find companies that can pay and raise their dividends over time.
Investing in equal parts of 3M (NYSE: MMM), Brookfield Renewable (NYSE: BEPC) (NYSE: BEP), and ABB (NYSE: ABB) gives an investor an average dividend yield of 3.4% and exposure to different industries within the industrial sector, as well as renewable energy. Here's what makes each dividend stock a great buy now.
Source Fool.com
