Want $1,000 in Reliable Dividend Income? Invest $11,800 in these 3 Ultra-High-Yield Dividend Stocks.

Three dividend-paying stocks that could provide a steady stream of passive income to patient investors are Bristol Myers Squibb, PennantPark Floating Rate Capital, and Ares Capital. Despite the recent market surge, finding reliable dividend payers with high yields has become more challenging. However, these three stocks offer an average yield of 8.5% at current prices.

Bristol Myers Squibb has seen a decline in its stock price but has consistently increased its dividend payout for 15 years, now offering a 6% yield. Despite recent setbacks, the company’s revenue is growing, and new drug approvals are expected to drive future gains.

PennantPark Floating Rate Capital is a business development company that provides high-interest loans to businesses. With a loan portfolio focused on senior secured debt, the company has a strong track record of dividend growth and low default rates.

Ares Capital, the largest publicly traded BDC, offers a 9.1% dividend yield with a diversified portfolio of mid-market businesses. The company’s strategic approach has resulted in steady dividend growth over the past decade, making it an attractive option for long-term investors.

Overall, these three dividend payers offer the potential for passive income and dividend growth, making them appealing choices for investors seeking reliable returns.