The S&P 500's dividend yield is currently around 1.4%, which isn't very attractive if you desire to collect passive income. However, many stocks offer much higher yields, with several presently paying dividends yielding 5% or more. Here are five stocks with payouts above that level that should generate income for their investors for years to come.

Agree Realty (NYSE: ADC) yields 5.3% these days. Even better, the real estate investment trust (REIT) pays a monthly dividend. Those two characteristics make it great for those seeking to collect passive income.

The REIT supports that dividend with a portfolio of income-producing retail properties. It focuses on owning properties net leased or ground leased to financially strong national and super-regional retailers resistant to disruption from e-commerce. It therefore collects very durable and stable rental income. It pays out about 75% of that income in dividends and uses the rest to help fund new acquisitions. Its steadily expanding portfolio has supplied it with the rising income to grow its dividend at a 6.1% annual rate over the last decade. With a strong balance sheet and long growth runway, Agree Realty should be able to continue increasing its dividend in the years ahead.

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Source Fool.com