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Invest $7,000 in This Dividend Stock for $441 in Passive Income

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Generate a tax-free quarterly income of $110.33, totaling $441.32 annually with this top Canadian dividend stock. The post Invest $7,000 in This Dividend Stock for $441 in Passive Income appeared first on The Motley Fool Canada.
The article from MSN Money discusses the potential benefits of investing in a specific dividend stock, Fortis Inc., to generate passive income. It suggests that by investing $7,000 in Fortis, an investor could receive approximately $441 in annual passive income, based on Fortis's current dividend yield of 4.41%. Fortis is highlighted for its stability and reliability as a utility company with a long history of paying and increasing dividends, making it an attractive option for those looking for steady income from their investments. The article emphasizes the low risk associated with utility stocks like Fortis due to their essential services, which generally ensures consistent revenue and, consequently, consistent dividends.

Read the Full MSN Article at:
[ https://www.msn.com/en-ca/money/savingandinvesting/invest-7-000-in-this-dividend-stock-for-441-in-passive-income/ar-AA1vP6HO ]