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Invest $5,000 in This Dividend Stock for $242.73 in Passive Income

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Not all energy stocks are in the oil and gas industry, and providing some diversification can bring in cold hard cash. The post Invest $5,000 in This Dividend Stock for $242.73 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 $5,000 in Fortis, an investor could potentially earn $242.73 in annual passive income. Fortis is highlighted for its stability and reliability as a utility company, which provides essential services like electricity and gas, making it less susceptible to economic downturns. The article points out Fortis's long history of dividend payments, with over 49 consecutive years of increases, showcasing its commitment to shareholder returns. It also mentions Fortis's strategic plan to continue growing its dividends, aiming for a 4-6% annual increase through 2027, supported by a robust capital investment program. The piece concludes by emphasizing the low risk and steady income potential of Fortis, making it an attractive option for those looking to build a passive income stream.

Read the Full MSN Article at:
[ https://www.msn.com/en-ca/money/topstories/invest-5-000-in-this-dividend-stock-for-242-73-in-passive-income/ar-AA1z4NBC ]