Need More Income? These Companies Just Gave Their Investors a Raise.
With inflation running hot these days, most of us could use a little extra income to cover our rising expenses. One way to make some money on the side is by investing some actively earned income from a job into generating passive income. You can supercharge that income production through investments that steadily pay more income.
Investing in companies that pay a growing dividend is one option. Three dividend stocks that have been sending more cash to their investors are Energy Transfer (NYSE: ET), Retail Opportunity Investments Corp. (NASDAQ: ROIC), and Delek Logistics Partners (NYSE: DKL). All three companies offer above-average income yields and recently increased those payments. Those factors make them ideal for passive income production in an inflationary environment.
This week, Energy Transfer gave its investors a 15% raise, boosting its quarterly distribution to $0.23 per unit. That's the master limited partnership's (MLP) third raise this year, in which it has increased the payout by 50%. At the current price, the pipeline company now yields 8.7%. Put another way, every $1,000 invested in Energy Transfer should produce $87 in annual passive income.
Source Fool.com
