Want $1,000 in Dividend Income? Here's How Much You Have to Invest in NextEra Energy Partners Stock.
NextEra Energy Partners (NYSE: NEP) enables investors to generate lots of dividend income these days. The renewable energy producer's dividend yield is currently over 10%. That's several times higher than the S&P 500's dividend yield (1.3%).
Here's a look at how much you'd need to invest in the renewable energy dividend stock to generate $1,000 in annual dividend income.
NextEra Energy Partners currently pays a quarterly dividend of $0.8925 per share ($3.57 annually). You'd need to own about 280 shares to generate $1,000 of annual dividend income at that rate. With shares recently trading at around $33 apiece, it would cost about $9,250 to buy those shares. For comparison, a similar investment in an S&P 500 index fund would only produce about $120 of annual dividend income.
Source Fool.com
