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Start Making Passive Income Immediately With This 7.6% Dividend Stock

Start Making Passive Income Immediately With This 7.6% Dividend Stock: Enbridge (ENB)

Enbridge (TSX:ENB) is a North American energy infrastructure company that owns and operates a vast network of pipelines, storage facilities, and power generation assets. It is one of the largest pipeline operators in the world, and its assets are critical to the transportation of energy products across North America.

Enbridge is a Dividend Aristocrat, meaning that it has increased its dividend for at least 25 consecutive years. It has a long history of paying reliable and growing dividends to its shareholders.

Why Enbridge is a Good Stock for Passive Income

There are several reasons why Enbridge is a good stock for passive income investors:

High dividend yield: Enbridge currently has a dividend yield of 7.6%, which is significantly higher than the average dividend yield of the S&P 500.

Strong financial performance: Enbridge has a strong track record of financial performance. It has generated positive free cash flow for over 60 consecutive years.

Stable business model: Enbridge's business model is relatively stable, as it is based on long-term contracts with customers.

Experienced management team: Enbridge has an experienced and well-respected management team.

How to Start Making Passive Income With Enbridge

To start making passive income with Enbridge, you simply need to purchase shares of the stock. Once you own shares, you will be eligible to receive quarterly dividend payments.

The amount of passive income you earn will depend on the number of shares you own and the current dividend yield of the stock. For example, if you own 100 shares of Enbridge and the dividend yield is 7.6%, you will receive quarterly dividend payments of $76.

Conclusion

Enbridge is a good stock for passive income investors because of its high dividend yield, strong financial performance, stable business model, and experienced management team. If you are looking for a way to start making passive income immediately, Enbridge is a stock to consider.

Please note: Investing in any stock involves risk, and Enbridge is no exception. Before investing, be sure to do your own research and understand the risks involved.