Want $1,000 in Dividend Income? Here's How Much You Have to Invest in Enbridge Stock.
With a market capitalization of over $75 billion, Enbridge (NYSE: ENB) is the largest midstream energy company today. The oil and gas stock's dividend yield of 7.6% is also among the highest in the energy sector, and it's backed by a solid dividend track record.
Canada-based Enbridge has increased its dividend every year for 29 consecutive years now, and grew its dividend at a compound annual growth rate of 10% during the period. Enbridge stock has yielded staggering returns of more than 1,200% over the period with reinvested dividends, thanks to its dividend growth.
That makes Enbridge an appealing dividend stock to own, but how much should you invest in the oil stock now to earn $1,000 in dividend income? Let's find out.
Source Fool.com
