This Infrastructure Stock Is a Must-Own If You Want Passive Income

Many companies pay a dividend, giving passive income seekers a multitude of options. However, certain sectors are better suited for income generation. One of those is infrastructure.

Companies that operate infrastructure assets tend to generate lots of stable cash flow secured by government-regulated rates and long-term contracts. That gives them a solid foundation for making dividend payments. Brookfield Infrastructure (NYSE: BIPC) (NYSE: BIP) is one of the best infrastructure stocks for passive income. Here's why it stands out as a must-own stock for passive income seekers.

Brookfield Infrastructure currently offers investors a 3.4% dividend yield. This rate implies that every $1,000 invested will generate $34 of annual passive income. That's about double the income an investor can make compared to an S&P 500 index fund.

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Source Fool.com