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Invest $18,000 in These 2 Dividend Stocks for $5,742.24 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
These two dividend stocks may not offer the highest yields, but they could offer even more passive income when you include returns. The post Invest $18,000 in These 2 Dividend Stocks for $5,742.24 in Passive Income appeared first on The Motley Fool Canada.
The article from MSN Money discusses an investment strategy focused on generating passive income through dividend stocks. It suggests investing $18,000 into two specific Canadian stocks: Enbridge Inc. and Bank of Nova Scotia. Enbridge, known for its energy infrastructure, offers a high dividend yield of 7.5%, while Bank of Nova Scotia, one of Canada's major banks, provides a yield of 6.6%. The article outlines that by investing $9,000 in each stock, an investor could expect to receive $675 annually from Enbridge and $594 from Bank of Nova Scotia, totaling $1,269 in the first year. Over time, with dividend reinvestment and assuming the stocks maintain their yields, this could grow to $5,742.24 in passive income over a decade, highlighting the power of compounding and the stability of these established companies.

Read the Full MSN Article at:
[ https://www.msn.com/en-ca/money/savingandinvesting/invest-18-000-in-these-2-dividend-stocks-for-5-742-24-in-passive-income/ar-BB1ro6mP ]