3 Great Dividend Stocks to Buy Right Now for $33 or Less

Group 1: Brookfield Renewable - Brookfield Renewable expects to grow its funds from operations (FFO) per share at a more than 10% annual rate over the next decade, with growth drivers including inflation-linked rate increases and a vast pipeline of development projects [2] - The company has increased its dividend payment at a 6% compound annual rate since 2001 and aims to grow its payout at a 5% to 9% yearly rate in the future [8] - Shares of Brookfield Renewable currently fetch less than $29, with a quarterly dividend of $0.355 per share, resulting in a nearly 5% dividend yield [12] Group 2: Invitation Homes - Invitation Homes, a REIT managing single-family rental homes, has a share price just below $33 and pays a quarterly dividend of $0.29 per share, recently increased by 3.6%, yielding 3.6% [9] - The REIT benefits from strong demand for rental housing due to the affordability gap between renting and buying a home, which exceeds $1,000 a month in its markets [3] - Invitation Homes plans to expand its portfolio, which includes over 110,000 homes, and has partnered with homebuilders to deliver about 2,500 new homes in the coming years [14] Group 3: Kinder Morgan - Kinder Morgan is the leading natural gas pipeline operator in the U.S., with shares currently priced at $27 and a quarterly dividend of $0.2875 per share, yielding 4.2% [4] - The company has several billion dollars of expansion projects under construction, expected to come online through 2028, to meet the anticipated surge in natural gas demand [11] - Kinder Morgan plans to approve additional projects in the coming months, enhancing its growth outlook and providing more fuel to increase its dividend [11] Group 4: Investment Opportunity - Brookfield Renewable, Invitation Homes, and Kinder Morgan all have share prices below $33, making them affordable stocks for generating passive dividend income [16] - The trio is expected to increase their dividends in the future, providing investors with a growing income stream as they buy more shares [16]