The Ultimate Dividend Stock to Buy With $1,000 Right Now
Enbridge (NYSE: ENB) is a dividend lover's dream stock. The Canadian pipeline and utility giant currently offers a dividend yield approaching 7%. That's several times higher than the average dividend stock (the S&P 500's dividend yield is less than 1.5%). Meanwhile, Enbridge has an elite record of increasing its payout (29 years and counting).
With a high dividend yield and plenty of fuel to continue increasing its dividend, Enbridge is the ultimate dividend stock to buy now. It could turn a $1,000 investment into nearly $70 (and rising) of annual passive income.
Enbridge generates extremely stable cash flow. Roughly 98% of its earnings before interest, taxes, depreciation, and amortization (EBITDA) comes from cost-of-service arrangements or long-term contracts. Enbridge's earnings are so predictable that it has achieved its financial guidance for 18 straight years.
Source Fool.com
