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.

| More on:
data analytics, chart and graph icons with female hands typing on laptop in background

Image source: Getty Images

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.

More on Dividend Stocks

Business people standing near houses models
Dividend Stocks

Why Canadian Apartment Properties REIT Notched a 15% Gain in January 2023

CAPREIT may not look like a deal at the outset, but long-term growth projections would disagree – especially when considering…

Read more »

edit Businessman using calculator next to laptop
Dividend Stocks

1 Oversold Dividend Stock (With a 8% Yield) I’m Buying Right Now

Real estate investment trusts Northwest Healthcare offers investors a tasty dividend yield of almost 8%.

Read more »

A red umbrella stands higher than a crowd of black umbrellas.
Dividend Stocks

2 Recession-Resistant Stocks to Buy for Steady Gains in 2023

Investors worried about a recession can look to buy utility stocks such as Hydro One and Waste Connections right now.

Read more »

Dial moving from 4G to 5G
Dividend Stocks

Down by 15%: Is BCE Stock a Good Investment in January 2023?

Few companies are truly “too big to fail,” but most market leaders are far more resilient against market headwinds or…

Read more »

edit Business accounting concept, Business man using calculator with computer laptop, budget and loan paper in office.
Dividend Stocks

Looking for $200/Month in Alternative Income? Buy 530 Shares of This Stock

Do you want to earn $200 monthly alternative income for the next few years? Then accelerate your investments in this…

Read more »

IMAGE OF A NOTEBOOK WITH TFSA WRITTEN ON IT
Dividend Stocks

Deadline Coming: 3 TFSA Stocks to Buy Now Before Dividend Payouts

Invest in RNW stock and 2 other TFSA friendly names before this fast-approaching deadline to get the full 2023 dividend.

Read more »

Various Canadian dollars in gray pants pocket
Dividend Stocks

Passive Income: How to Earn Nearly $367 Per Month in Your TFSA Portfolio

Top TSX dividend stocks now trade at discounted prices for TFSA investors seeking passive income.

Read more »

Hand arranging wood block stacking as step stair with arrow up.
Dividend Stocks

3 Stocks I’d Buy — But I’m Waiting for a Dip

After the recent bounce, It may be smart for investors to wait for a dip before they buy these solid…

Read more »