Want Passive Income? This Dividend King Could Be a Smart Buy in 2023
Investing in the stock market is fun and exciting simply because there are so many different strategies. Some of the more risk-accepting investors will lean toward growth tech stocks and cryptocurrencies, while risk-averse investors could gravitate to safer, established, profitable enterprises that provide steady returns.
That latter category of businesses might include dividend payers, a smart way to boost portfolio gains by doing absolutely nothing. If you're an investor who loves generating passive income from your holdings, then take a look at Home Depot (NYSE: HD). The giant retailer has been paying out dividends since 1987.
Since its initial public offering in September 1981, Home Depot's stock has skyrocketed 1,500,000% (as of Jan. 24). That remarkable performance crushes the S&P 500 by a wide margin. With a market cap of $323 billion today, Home Depot has become one of the largest and most dominant businesses in the world.
Source Fool.com
