Want Passive Income? This Company Just Raised Its Dividend (Again)

Generating passive income is an excellent way to boost wealth. This way, the money accumulates while you are free to work on your career or sit on a beach enjoying the sunset.

If you're looking for passive income, which I imagine you are because you clicked on this article, then Clorox (NYSE: CLX) could be a solid choice. The company just increased its dividend payment again. Let's examine why passive income investors can consider Clorox stock for their portfolios.

On July 12, Clorox announced it would increase its quarterly dividend payment to $1.18 per share. That means investors who buy Clorox stock will be getting quarterly payments totaling $4.72 per year. This isn't the first time Clorox has increased its dividend; from 2012 to 2021, the company has boosted its annual dividend per share from $2.40 to $4.44.

Source Fool.com