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Invest $18,000 in These 2 Dividend Stocks for $5,742.24 in Passive Income

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 ]