When the stock market is red-hot and showing no signs of slowing down, a dividend payment here and there seems like a drop in the bucket. But when the bear market drags on and companies are down big off their highs, passive income can provide a much-needed incentive to hold stocks through periods of volatility.

Investing in equal parts of ExxonMobil (NYSE: XOM), PPG Industries (NYSE: PPG), and Stanley Black & Decker (NYSE: SWK) gives an investor a dividend yield of 3%. Over a period of five years, you can expect a $10,000 investment in this basket to produce $1,500 of passive income. What's more, all three companies are high-quality Dividend Aristocrats, which are S&P 500 components that have paid and raised their dividends for at least 25 consecutive years. Here's what makes each company a great buy now.

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Source Fool.com