Generate $2,000 Annual Dividend with $30K in 3 Stocks

Investing in the stock market can be a powerful strategy to grow wealth, offering returns that surpass traditional savings accounts. For investors seeking a passive-income stream, dividend stock investing is a compelling approach. In this article, we will explore three TSX-listed stocks that stand out as reliable options for creating a consistent passive-income stream in your self-directed portfolio.

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1. TSX:ENB Fueling Growth and Sustainability

Enbridge, with a market cap of $100.20 billion, is a multinational pipeline and energy company based in Calgary. Operating an extensive pipeline network, Enbridge plays a crucial role in transporting hydrocarbons across North America. The company's diverse energy services, including a focus on renewable energy, position it as a defensive and forward-thinking investment.


As of the latest data, Enbridge stock trades at $47.14 per share, offering investors an enticing 7.76% dividend yield. The combination of its essential services, commitment to sustainability, and a robust dividend yield makes Enbridge a compelling choice for those seeking reliable passive income.

2. TC Energy are Energizing Growth and Dividends

TC Energy, headquartered in Calgary with a market cap of $56.02 billion, is a prominent energy transportation company operating in North America. With a focus on energy infrastructure development, TC Energy has consistently delivered strong performances. The company's successful project implementations and continuous growth reflect its robust operations.


Currently priced at $54.00 per share, TC Energy stock (TSX:TRP) provides investors with a generous 7.11% dividend yield. Having increased dividends for 24 consecutive years, TC Energy's commitment to shareholder returns positions it as a reliable choice for creating a passive-income stream.

3. TSX:BMO Banking on Stability and Dividend Growth

Bank of Montreal, founded in 1817 and holding a market cap of $89.97 billion, is one of Canada's oldest and largest financial institutions. As a member of the Big Six Canadian banks, BMO is recognized for its stability and long-standing reputation. Despite macroeconomic challenges, its lower-than-usual share prices present an opportunity for dividend-focused investors.


Trading at $124.03 per share, Bank of Montreal stock boasts a 4.87% dividend yield. The economic moat of BMO and its peers positions it to navigate uncertainties successfully, making it an attractive option for investors seeking both stability and dividend growth.


In conclusion, these three TSX stocks - Enbridge, TC Energy, and Bank of Montreal - offer investors the potential to build a reliable passive-income stream. By combining strong fundamentals, dividend yields, and growth prospects, these stocks present opportunities for investors to fuel their financial journey.

Location: Canada

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