Investing in dividend stocks is a great way to start collecting passive income. Many companies pay dividends, with some offering very attractive payouts. Several high-quality dividend stocks currently yield over 5%, significantly above the S 500's average of around 1.3%.

Here are five great higher-yielding dividend stocks to buy right now for passive income.

Dominion Energy (NYSE: D) currently has a dividend yield of around 5.5%. The utility generates very stable income backed by government-regulated rate structures and stable electricity demand to support its hefty payout. Its current focus is on providing dividend stability while investing in expanding its operations and transitioning its power generation fleet to lower-carbon energy.

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Source Fool.com