The 3 Passive-Income Stocks I’m Buying Next and Never Selling

You can safely hold these passive-income stocks forever thanks to their growth within the infrastructure sector.

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The next year could be a rocky one for investors. It’s why many are looking for passive-income stocks that they can latch onto for the next year. But what about beyond 2023?

Today, I’m going to recommend three passive-income stocks that I’d buy and never sell. Lock in these dividends and reinvest them for years to come. Here’s why.

WSP Global

First up, WSP Global (TSX:WSP) is a strong choice for those wanting access to global growth within the infrastructure sector. And believe me, you want this. Infrastructure will provide you with protection within the next year. And WSP stock offers protection by consulting on infrastructure projects around the world.

That makes WSP stock a strong choice for protection now. But it’s also a strong choice when it comes to long-term growth. You can look forward to few dips and dividend income that you can use to reinvest in the stock over and over.

Plus, the stock remains a deal, trading at 3.54 times book value and just 76.2% of its equity needed to cover all its debts. While the dividend isn’t high at 0.91%, it’s still solid income you can look forward to from this passive-income stock. As of writing, shares are down 11% year to date and up 2,984% in the last two decades.

Waste Connections

While it might be more focused, Waste Connections (TSX:WCN) is just as sturdy when it comes to passive-income stocks. WCN stock has beat out earnings estimates the last two quarters in a row, and that looks like it’s set to continue, as the company continues to expand across North America.

And hey, if you’re looking for passive-income stocks, how about one that just boosted its dividend by 10.9%? Not only that, it also increased its full-year outlook, providing investors with even more reason to consider this stock that’s anything but garbage.

Again, the dividend isn’t that high at just 0.70% as of writing. But you’re getting a heck of a lot of growth with that. Furthermore, it remains a strong stock with a solid balance sheet, needing just 92.6% of its equity to cover all debts. As of writing, shares are up 12.5% year to date and 235% since coming on the market in 2016.

Brookfield Infrastructure

Let’s get back to more infrastructure growth through exposure to global operations. That’s what you can achieve by investing in Brookfield Infrastructure Partners (TSX:BIP.UN). Furthermore, you gain exposure to the strong oil and gas industry as well as the booming growth of the renewable energy sector.

This is a passive-income stock that investors should hold onto for decades. It’s a perfect way to transition from old energy to new and collect cash while you do it. And the dividend is great at 3.9% as of writing.

Finally, this stock provides even more of a deal, trading at 2.64 times book value. As of writing, shares are down 4.6% year to date and up 1,253% since coming on the market in 2009.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool recommends Brookfield Infrastructure Partners and Wsp Global. The Motley Fool has a disclosure policy.

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