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Dividend stocks are in focus as investors look to funnel capital into a euphoric market after the first rate cut. Plenty of successful dividend investing stories show that picking dividend-paying stocks prudently can help you generate a reliable income stream.
About three years ago, a dividend investor on r/Dividends shared his detailed income report, saying he earned $13,000 per year. The Redditor’s initial investment was around $330,000, which reached nearly $474,000 in about seven years of his investing journey.
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Asked whether he uses DRIP investing strategies, the investor said:
"I don’t drip – I prefer to earn dividends and reinvest when I see a good opportunity. Same with rebalancing. If a stock is very overvalued and I spot a good cheap one, I might divert funds."
There were 73 stocks in this portfolio. To give you a taste of what kind of stocks generated the most income for this investor, we chose 14 high-yield dividend stocks with the biggest contributions to the overall annual income of the investor, based on the portfolio screenshots he shared publicly in his Reddit post.
AbbVie
With a current dividend yield of 3.2%, AbbVie Inc. (NYSE:ABBV) was one of the important dividend stocks in the portfolio of the Redditor who makes $13,000 per year. The screenshots shared by the investor showed the portfolio had 80 shares of the company. Over the past year, AbbVie shares have gained about 25%.
Franklin Resources
Financial services company Franklin Resources Inc. (NYSE:BEN) was among the highest-yielding dividend stocks in the $13,000 income portfolio. The stock yields about 5.9% and the company has raised its payouts without a break for over four decades. The Redditor owned 180 shares of the company. However, over the past five years, BEN shares have been down about 27%.
Cardinal Health
With more than 35 consecutive years of dividend increases, Cardinal Health Inc. (NYSE:CAH) is among the safest dividend stocks. The Redditor owned about 95 shares of the company.
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