Got $1,000? Turn It Into a Prodigious Passive Income Stream With This 7.5%-Yielding Dividend Stock
Enterprise Products Partners (NYSE: EPD) is a passive income-producing machine. The master limited partnership (MLP) has increased its distribution to investors for 25 straight years, its entire history as a public company. Its most recent increase of 2% earlier this month pushed its yield up to 7.5%.
It could turn a $1,000 investment into $75 of annual passive income at that rate. That's several times the rate an investor would earn in an S&P 500 index fund ($15 of annual dividend income at the current 1.5% dividend yield).
The energy midstream company has plenty of fuel to continue growing its prodigious payout. That makes it a great way to turn idle cash into an attractive passive income stream.
Source Fool.com
