Want $15,000 in Passive Income? Buy 3,265 Shares of This Dividend Stock

Dividend stocks tend to outperform the broader market, especially those that consistently raise their payout over time. For instance, the S&P 500 has fallen 18% from its high, dragged deep into correction territory as investors hedged against the risk of recession. Meanwhile, the Vanguard High Dividend Yield ETF is down just 8%.

Given the current market turbulence, now looks like a great time to add a high-quality dividend stock to your portfolio, and Texas Instruments (NASDAQ: TXN) checks that box. In fact, buying 3,625 shares today would generate $15,000 per year in passive income, while still leaving plenty of room for price appreciation.

Here's what you should know.

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Source Fool.com