The S&P 500 currently has a rather pedestrian dividend yield of around 1.1%. That's near its record low. As a result, you'd only generate about $34 of annual passive income by investing $3,000 into an S&P 500 index fund. Several companies offer dividend yields well above the market average. That enables you to generate a lot more income from the same investment. For example, investing $3,000 into the following three ultra-high-yielding dividend stocks would produce hundreds of dollars in passive income eac ...