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If You Bought 1,000 Shares of This Dividend Stock, Your Passive Income Will Have Grown Nearly Sixfold

TheMotleyFool

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If You Bought 1,000 Shares of This Dividend Stock, Your Passive Income Will Have Grown Nearly Sixfold

Investors looking to generate passive income have hit a gold mine with Home Depot (NYSE: HD). One of the best ways to boost passive income is to buy stocks that pay dividends. That's why Home Depot has been so good to passive income investors; it has increased its dividend nearly sixfold in the past decade.

Passive income investors who bought 1,000 shares of Home Depot stock in 2013 have seen their dividends increase from $1,160 to $6,600. Let's look at how Home Depot accomplished that feat and if passive income investors of today can expect something similar in the future.