Yahoo Finance Passive-Income Power: How to Make Over $100/Week in Your Sleep!
Written by Ambrose O'Callaghan at The Motley Fool Canada
The S&P/TSX Composite Index was down 84 points in late-morning trading on July 26. Canadian investors are still battling volatility in the final week of this month. That may drive investors to consider pursuing a passive-income strategy in the months ahead. Today, I want to discuss how you can look to make over $100 a week in your sleep. In this hypothetical, we’ll use a Tax-Free Savings Account (TFSA) and use its entire cumulative contribution room of $81,500.
This dividend stock still offers a monster yield
Chemtrade Logistics (TSX:CHE.UN) is a Toronto-based income fund that offers industrial chemicals and services in North and South America. Shares of Chemtrade have climbed 10% in 2022 at the time of this writing. The stock is up 22% in the year-over-year period.
Investors can expect to see the company’s second-quarter 2022 earnings in early August. In Q1 2022, total revenue increased $77.9 million in the year-over-year period to $390 million. Meanwhile, cash flows from operating activities jumped $44.2 million to a total of $37.8 million. Overall, it was a strong start to the fiscal year for this industrial company.
This dividend stock closed at $8.24 per share on July 25. In our hypothetical, we’ll snag 3,300 shares for a total purchase price of $27,192. It offers a monthly dividend of $0.05 per share, which represents a monster 7.2% yield. That means we can generate weekly passive income of $38.07 going forward.
Here’s a top REIT that can bolster your passive-income portfolio
Northwest Healthcare REIT (TSX:NWH.UN) is a real estate investment trust (REIT). It is focused on owning and operating a portfolio of high-quality health care real estate around the world. Shares of Northwest have dropped 6% in the year-to-date period.
In Q1 2022, this REIT posted revenue growth of 10% to $102 million. Meanwhile, it delivered impressive portfolio occupancy of 97%. The REIT closed at $12.87 per share on July 25. We can snatch up 2,110 shares of Northwest for a total price of $27,155. This REIT last paid out a monthly distribution of $0.067 per share. That represents a tasty 6.2% yield. It can now generate weekly passive income of $32.62 in our TFSA.
One more stock that can deliver big passive income going forward
Keyera (TSX:KEY) is the third dividend stock I’d look to snatch up to bolster our passive-income portfolio today. This Calgary-based company is engaged in the domestic energy infrastructure business. Its shares have increased 10% so far in 2022.
The company released its first-quarter 2022 earnings on May 10. It posted cash flow from operating activities of $457 million, which was nearly double from the $268 million Keyera delivered in the previous year.
This energy stock closed at $31.67 per share on July 25. For our final purchase, we’ll snag 855 shares of Keyera for a total price of $27,077. The stock last paid out a monthly dividend of $0.16 per share. That represents a 6% yield. The shares we purchased will allow us to make passive income of $31.56/week in 2022.
Conclusion
These investments in our TFSA will allow us to generate passive income of $102.25 per week. That is a nice payout in a choppy market.
The post Passive-Income Power: How to Make Over $100/Week in Your Sleep! appeared first on The Motley Fool Canada.
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Fool contributor Ambrose O'Callaghan has no position in any of the stocks mentioned. The Motley Fool recommends KEYERA CORP and NORTHWEST HEALTHCARE PPTYS REIT UNITS.
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