N@N

Invest $15,000 in This Dividend Stock, Create $5,710.08 in Passive Income

The article from Fool.ca discusses the potential of investing in a specific dividend stock, Fortis Inc., to generate passive income. It suggests that by investing $15,000 in Fortis, an investor could achieve a significant return due to the company's stable and growing dividend payouts. Fortis, a utility company, is highlighted for its consistent dividend increases for over 50 years, making it a reliable choice for income-focused investors. The article calculates that with Fortis's current yield of around 4.2%, an investment of $15,000 would generate approximately $630 annually in dividends. Over time, with the company's history of dividend growth, this could compound to create a substantial passive income stream, potentially reaching $5,710.08 if held for a long period, assuming the dividend growth rate continues. The piece emphasizes the benefits of long-term investment in stable, dividend-growing companies for creating a passive income source.

Read the Full The Motley Fool Canada Article at:
[ https://www.fool.ca/2024/12/13/invest-15000-in-this-dividend-stock-create-5710-08-in-passive-income/ ]