Want $5,100 in Annual Dividends? Invest $29,000 in Each of These 3 Stocks.

Investing in the stock market can be a great way to increase your income. Stocks that pay a dividend aren’t doing well these days as high interest rates make for enticing alternatives, but that can present an attractive opportunity to load up on them, as many are offering attractive payouts.

Three stocks that can help generate a ton of revenue for your portfolio today are Verizon Communications (VZ 1.50%), Enbridge (ENB 0.20%), and T. Rowe Price Group (TROW -1.10%). By investing $29,000 into each of them, you can accumulate roughly  $5,000 in annual dividend income at their current payouts. Dividends can always be cut, but these three look solid. Here’s why they can make for good stocks to put into your portfolio right now.

Verizon Communications

Verizon’s stock has struggled over the past five years, falling more than 12%. Investors have been down on telecom stocks as they carry lots of debt and aren’t attractive buys amid high interest rates. There’s also generally not much growth. Plus, with higher rates, there are more opportunities to earn good returns without having to rely on dividend stocks.

The company is expecting slow but stable growth in the low single digits this year, which is what you want to hear if you’re a dividend investor who is looking for a safe investment to hang on to. Verizon is by no means a risky buy, even though it yields 6.2% as I write this. At such a high rate, a $29,000 investment in the stock could generate around $1,800 in annual dividends. That’s not bad for a low-volatility stock like Verizon, which averages a beta of 0.40.

As long as you temper your expectations for the stock, it can make for a good investment for what it offers: a great dividend. You may not achieve significant returns from owning the stock, but with a solid yield and a reasonable valuation — it trades at less than 11 times its trailing earnings — it can be an excellent long-term buy.

Enbridge

Pipeline company Enbridge is another solid dividend investment to hang on to. It is yielding 5.9% as I write this, which means that on a $29,000 investment, you could bring in over $1,700 in annual dividends. The company, which is a big player in the oil and gas industry, has also been increasing its dividend for 30 consecutive years.

The company has also hit its guidance for 19 straight years, as its operations have been remarkably resilient amid volatile market conditions. Investors may be concerned about the Canada-based company’s prospects as Donald Trump’s tariffs heat up. However, I’m optimistic that with Trump being a proponent of the oil and gas industry’s growth, his approach may be a bit more lax on the industry. Meanwhile, internally, Canada is looking at building more pipelines across the country to be less dependent on the U.S. market.

Investors don’t appear to be too worried about Enbridge, as it has rallied 25% over the past 12 months. The stock trades at 27 times its trailing earnings and can make for another solid dividend stock to own for the long haul.

T. Rowe Price Group

Investment management firm T. Rowe Price offers investors yet another high yield, at 5.5%. It’s the lowest on this list, but it’s still around four times more than the S&P 500 average of 1.4%.

Investing $29,000 into the stock would produce approximately $1,600 in annual dividends, based on its current rate. That means across these three stocks, you’d be collecting a total of $5,100 in dividends over the course of a full year from investments totaling $87,000. It’s a sizable investment, but the payoff can be significant. Plus, you’d also be diversifying your portfolio in the process by gaining exposure to three different industries.

T. Rowe offers a variety of investment products and solutions and helps investors plan for retirement. What’s attractive about the business is its high margins. In 2024, it reported a net income of $2.1 billion on revenue totaling $7.1 billion (which was up 10% year over year) — for a net margin of 30%. The company says it has been growing its exchange-traded fund business and insurance operations, and it’s eyeing more growth ahead.

At a price-to-earnings multiple of 10, this is another attractively priced dividend stock you can add to your portfolio today.