Want Reliable Passive Income – Here's How To Make $1,000 Per Year On The Top Three Dividend King With The Highest Yield

Eric McConnell

Thu, Jan 2, 2025, 10:48 AM 5 min read

Building an investment portfolio that generates income through dividend yields is one of the most time-tested retirement planning strategies. However, the success of that plan is contingent on reliability. That's what makes Dividend King stocks so special. Their combination of yield and reliability puts them in the "Goldilocks zone" for many investors. Keep reading to discover how you can earn $1,000 in passive income off the three dividend kings with the highest yield.

What Are Dividend King Stocks?

Many stocks pay investor dividends, but there is never a guarantee that this will happen. Dividend Kings earn that title because not only do they pay dividends reliably, but they also increase those dividends with the same reliability. Earning Dividend King status requires a company's stock to pay and increase its annual dividend for at least 50 consecutive years.

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According to the Sure Dividend website and public filings, these are the three Dividend Kings with the highest yields:

1. Altria Tobacco (NYSE:MO)

2. Universal Corporation (NYSE:UVV)

3. Canadian Utilities (OTC:CDUAF)

Here's how to earn $1,000 in passive annual income from each stock.

Altria Group

This is one of the world's largest tobacco conglomerates. It has a massive share of the global tobacco market by owning globally recognizable brands like Marlboro, Skoal and Copenhagen. Altria has also diversified into nontraditional tobacco products like e-cigarettes by acquiring investment stakes in E-cigarette maker Juul and cannabis product maker Cronos Group (Cron).

That large market share of the global tobacco market makes Altria the highest-yielding stock of all the dividend kings. According to Benzinga's latest estimates and Altria's public filings, the company is paying a 7.76% dividend on its $52.50 share price. That's $4.05 per share, meaning you will earn $1,000.35 by purchasing 247 shares of Altria for $12,967.50.

See Also: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Here’s how you can earn passive income with just $100.

Universal Corporation

Like Altria, Universal Corporation is a major player in the global tobacco business. However, Universal doesn't own or operate the world's largest tobacco brands; it supplies them. This company provides raw leaf and other tobacco products to major manufacturers. Universal controls a massive supply network, which makes it a pivotal player in the global tobacco industry.

It has also diversified into other agricultural products. Universal began developing a fresh fruit and vegetable business in 2020, but tobacco is still its core business. Universal shares are trading at $54.47 and paying a strong 5.91% dividend, which translates to just under $3.22 ($3.21917) per share. Buying 311 shares at a total cost of $16,940.17 will yield $1,001.16 in annual passive income.

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Canadian Utilities

Utility stocks have traditionally been strong performers in the dividend arena because the utility company business model generates reliable income from massive customer bases. Canadian Utilities (also known as ATCO) is no exception. ATCO's public statements state that it controls 53% of Canada's utility market. In addition to its pipeline and infrastructure services, ATCO provides a full range of retail energy products (e.g., electricity and natural gas).

ATCO trades on the Canadian exchange for $24.15 per share and pays a 5.28% dividend, which translates to $1.27 per share. Buying 788 shares of ATCO stock for $19,030.20 would yield $1,004.79 in annual passive income. That's quite a solid return and ATCO looks set to continue delivering for as long as 53% of Canadians need utility services.

Looking For Higher-Yield Opportunities In A Shifting Market?

The changing interest rate environment has created an incredible opportunity for income-seeking investors to earn massive yields, but not through dividend stocks... Certain private market real estate investments are giving retail investors the opportunity to capitalize on these high-yield opportunities and Benzinga has identified some of the most attractive options for you to consider.

For instance, the Ascent Income Fund from EquityMultiple targets stable income from senior commercial real estate debt positions and has a historical distribution yield of 12.1% backed by real assets. With payment priority and flexible liquidity options, the Ascent Income Fund is a cornerstone investment vehicle for income-focused investors. First-time investors with EquityMultiple can now invest in the Ascent Income Fund with a reduced minimum of just $5,000. Benzinga Readers: Earn a 1% return boost on your first EquityMultiple investment when you sign up here (accredited investors only).

Don't miss out on this opportunity to take advantage of high-yield investments while rates are high. Check out Benzinga's favorite high-yield offerings.

This article Want Reliable Passive Income – Here's How To Make $1,000 Per Year On The Top Three Dividend King With The Highest Yield originally appeared on Benzinga.com

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