Want Growing Passive Income? Buy This Dow Jones Stock
Investors reach financial independence when the passive income (like dividends and interest) their holding generates exceeds their expenses. Getting to that point is simple in theory. It boils down to owning enough dividend-paying stocks with a track record of delivering inflation-beating dividend growth year after year. But which holdings will help you accomplish this?
To kick-start the idea-generation process, it can be helpful to talk about a stock that arguably already meets this requirement and what qualities it possesses. The pharmaceutical company Amgen (NASDAQ: AMGN) is just such a stock. It's a relatively new addition to the list of stocks that comprise the Dow Jones Industrial Average (added in 2020). And its addition was well-justified.
Let's take a closer look at Amgen's fundamentals and valuation to understand what makes it an excellent dividend growth stock.
Source Fool.com
