Investing in quality dividend stocks with an attractive yield can help you earn a passive-income stream for life. However, as dividends are not guaranteed, it’s essential to identify companies that enjoy steady cash flows across market cycles and a sustainable payout ratio. Ideally, the dividend-paying company should have enough flexibility to reinvest in growth projects or acquisitions, strengthen the balance sheet, and increase these payouts over time.
One such monthly paying dividend stock is Whitecap Resources (TSX:WCP), which currently pays shareholders an annual dividend of $0.73 per share. So, to earn $5,000 per year in passive income, you need to buy 6,850 shares of Whitecap worth $70,898 today.
| COMPANY | RECENT PRICE | NUMBER OF SHARES | DIVIDEND | TOTAL PAYOUT | FREQUENCY |
| Whitecap Resources | $10.35 | 6,850 | $0.061 | $417.85 | Monthly |
Valued at $6.2 billion by market cap, Whitecap Resources is an oil and gas company focused on the acquisition,…
