Got $1,500? This High-Yield Stock Can Make You $100 in Passive Income per Year
Building passive income streams is a smart way to make your money work for you. One great way to generate passive income is by investing in companies that consistently pay high dividends.
These can also be solid stocks to own because companies strive to maintain dividends even if the market is in a slump. For this reason, dividend payers tend to be high-quality companies that manage their capital wisely.
One stock that has performed well relative to its peers in downturns and delivers a high dividend yield is New York Community Bancorp (NYSE: NYCB). Investing $1,500 in this stock would net you about $100 in passive income annually. Here's what you should know about this high-yielding bank stock.
Source Fool.com