Why I Bought Another $280 of These More Than 6%-Yielding Dividend Stocks
I'm on a mission to grow my passive income so that it can eventually cover my expenses. I'm making steady progress each month by reinvesting my passive income into buying more income streams.
Pipeline stocks are one of my top sources of passive income. I recently used about $280 of my dividend income to buy a few more shares of leading pipeline companies Enbridge (NYSE: ENB) and Kinder Morgan (NYSE: KMI). Here's why I continue adding to my positions in these premiere passive income producers.
Enbridge currently yields 7.2%. That's several times higher than the S&P 500's 1.6% dividend yield. That prodigious payout is on a very sustainable foundation, which is why I recently spent about $145 to buy another four shares. That will add roughly $10.50 to my annual dividend income stream.
Source Fool.com
