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If passive income is the goal, the FTSE 100 can be a great place to look for opportunities. In this index, there are a lot of stocks that offer dividend yields of 6% or higher.
Here, I’m going to zoom in on one of my favourite passive income plays in the Footsie. This stock isn’t as popular as some other names such as BP and Legal & General, but it’s certainly rewarding investors with cash flow.
The stock in focus today is M&G (LSE: MNG). It’s a savings and investment business that has been around for over 170 years and currently manages money for around 4.5m retail clients and more than 900 institutional clients.
This company has rewarded investors with dividends every year since 2020 (shortly after it was split off from Prudential). And the payouts have been very generous.
This year, it paid investors 13.5p per share in May. It then paid investors another 6.7p per…
