Nothing is more rewarding than getting a paycheck every week that is completely passive. Just imagine getting extra income each week in addition to your job for doing absolutely nothing!
The easiest way to earn passive income is by investing in dividend paying stocks. While most companies pay dividends quarterly, you can get paid weekly by choosing stocks that pay at different times throughout the quarter.
In this article, I am going to show you 12 high-quality companies that pay dividends and how you can earn income weekly.
1. Genuine Parts Company (GPC)
Week: 1
Month(s): January, April, July, October
GPC is a distributor of automotive and industrial replacement parts and has been around for over 96 years. Dividends have increased for over 65 years, well surpassing dividend king status. The yield is around 2.6% which puts it above the market average and the share price has grown almost 2000% during its lifetime. GPC pays a dividend in the first week of the first month of each quarter.
2. VICI Properties (VICI)
Week: 2
Month(s): January, April, July, October
VICI Properties went public in 2018 making it the newest company on this list. While there is no significant track record for VICI to show, their business model is sound because it involves investing in gaming properties. VICI is a REIT investing in casino properties along the Las Vegas strip and elsewhere throughout the US.
Casino operators such as Caesers and MGM pay rent to VICI every month and the best part is that casino properties are very unique. The properties are designed specifically for casino’s making them difficult to move out of and the casino operators have long-term rental agreements in place with VICI. It’s also notable to mention that Las Vegas is known worldwide and attracts millions of tourists every year. VICI pays a dividend just shy of 5% and is paid out in the second week of the first month every quarter.
3. Medtronic (MDT)
Week: 3
Month(s): January, April, July, October
Medtronic has been increasing dividends for 43 consecutive years and pays a fair dividend of 2%. MDT gives you great exposure to the medical field as they create medical devices for hospitals all over the world. If you seek stable growth and dividend increases, you can expect to be paid on the third week of the first month each quarter.
4. JP Morgan Chase (JPM)
Week: 4
Month(s): January, April, July, October
JP Morgan Chase (JPM) is a solid play if you are looking to get into the banking industry. The dividend is around 2.40% and sees significant growth year after year. Over the past five years, JPM has grown the dividend 15%! JPM pays their dividend in the last week of the first month every quarter giving you solid cash flow.
5. AT&T (T)
Week: 1
Month(s): February, May, August, November
AT&T (T) is without a doubt the worst performing company on this list. While they do have a high dividend yield well over 7%, that is going to be cut in half once AT&T completes the spinoff of Warner Media and Discovery.
Although the dividend will be cut, AT&T should still pay over 3% which is above the market average and with more debt cleared from their books, AT&T can focus solely on telecommunications and grow that business unit. AT&T pays dividends on the first week of the second month each quarter.
6. Apple (AAPL)
Week: 2
Month(s): February, May, August, November
The story of Apple centers around growth, but for a technology company, they pay a dividend and have been able to increase it for the past 9 years. Apple has the largest market capitalization in the world and it’s no secret the company is very high quality. The growth has been outstanding, up over 350,000% over it’s lifetime. Apple pays dividends on the second week on the second month of the quarter.
7. Caterpillar (CAT)
Week: 3
Month(s): February, May, August, November
Caterpillar (CAT) is the first thing that comes to my mind when I think about construction. That’s probably because it’s the number 1 producer of construction equipment in the world. CAT has a fair dividend yield of around 2.30% with growth for 18 years in a row. The stock has had ups and downs but in the long run the growth has been very solid. Expect to get your share of Caterpillar’s dividend in the third week of the second month on a quarterly basis.
8. Fastenal (FAST)
Week: 4
Month(s): February, May, August, November
Fastenal isn’t the most interesting company but it has performed very well with gain of 86,000% over it’s lifetime. Industrial supplies and fasteners is what FAST specializes in and you can get your share every quarter. Fastenal typicaly pays a dividend in the last week of the second quarterly month. The yield sits around 2.15% with growth for 9 years.
9. Aflac (AFL)
Week: 1
Month(s): March, June, September, December
Aflac Insurance (AFL), yes the one with the duck, is a solid company to invest in and has been for a long time. Not only have they grown 44,000% over their lifetime, the dividend has increased for the past 39 years! AFL is a solid growth play and you can expect a payment from them during the first week in the last month of the quarter.
10. Microsoft (MSFT)
Week: 2
Month(s): March, June, September, December
At one point in our lives, we have all used a Microsoft product. Year after year Microsoft never fails to disappoint with their software and if you want to ride the waves of their success you will be rewarded handsomely. The stock has grown 2.8 million percent and pays a dividend over 0.80%. Microsoft generally pays dividends in the second week of the last month each quarter.
11. BlackRock (BLK)
Week: 3
Month(s): March, June, September, December
BlackRock is arguably the least talked about financial company and I don’t understand why. Their growth has been spectacular and they pay a good dividend of around 2%. BLK has been able to grow its dividend to shareholders for 17 consecutive years and there is no sign of slowing down. You can look on the third week every quarter in the last month to see your paycheck from BlackRock.
12. Broadcom (AVGO)
Week: 4
Month(s): March, June, September, December
Capping off your weekly dividend payments each year, look no further than Broadcom (AVGO). As a semiconductor manufacturer, many tech companies rely on Broadcom to supply components to be used inside their devices. As a tech company, AVGO yields a hefty dividend of around 3% with 10 years of growth. The growth has been linear over its lifetime and is a high quality company with much to offer in the future.
Putting it All Together
Over the course of the entire year, your dividend payment schedule will look something like this.
Weekly Dividend Structure
Are you wondering how you can get paid weekly from just 12 stocks? Let me explain how this structure works.
Most companies pay dividends once every three months for a total of four times each year. These companies are very consistent when they distribute dividends making it easy to predict when they will be paid.
If you look at the dividend history of any stock on this list, you can see it is very consistent when they pay dividends. Aflac (AFL) for example consistently pays within the first three days of March, June, September, and December.
As long as you choose one stock for each week over a three month period, you can project those forward over the entire year. Sometimes companies pay dividends out of their ordinary schedule but usually by only a few days.
Summary
Getting paychecks weekly feels very motivating because you are generating cash flow on a frequent basis. Most jobs pay bi-weekly or monthly and with the power of dividend investing you can see passive income coming in on top of your active income.
Although cash flow is great, I highly recommend against investing purely based on when a company pays a dividend. I strongly believe there are other factors to consider such as long-term growth, industry, management, etc.
There are many companies that pay dividends every month with high yields but the growth is decreasing and ultimately may not be a good investment when you consider capital gains and dividends.
I believe the companies on this list are very good quality companies and I invest in most of them. If you want to check out my portfolio you can click here.
Please do your own research and understand the risks before investing. Only invest based on your risk tolerance and what makes you comfortable.
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