3 High-Yield Dividend Stocks That Can Turn $300,000 Into $1 Million by 2030

These passive income powerhouses, with yields ranging from 4.4% to 11.9%, can generate some serious wealth for patient investors.

There are a lot of ways to make money on Wall Street, but few have proved more fruitful over the long run than buying dividend stocks .

Back in 2013, J.P. Morgan Asset Management unveiled a report examining the performance of dividend stocks to non-payers over a four-decade time frame (1972-2012). During this period, income stocks averaged an annual return of 9.5% , which meant that investors were doubling their money, on average, every 7.6 years. By comparison, the companies that didn’t pay a dividend clawed their way to a meager average annual return of 1.6%.

Even if we didn’t know the magnitude of difference between the average annual return of dividend stocks and non-dividend payers, these results aren’t surprising. Businesses that pay a regular dividend are often profitable, time-tested, and can provide transparent long-term outlooks. In other words, they should increase in value over time. Image source: Getty Images. With market volatility picking up big time, dividend stocks might be the perfect way to position your portfolio for success throughout the remainder of the decade. The following three high-yield stocks (i.e., yields 4% and above) all have the tools and intangibles needed to turn a $300,000 initial investment into $1 million, including dividends paid, by 2030. Walgreens Boots Alliance: 4.41% yield

The first high-yield income stock that can help investors generate a 233% total return in eight years is pharmacy chain Walgreens Boots Alliance ( WBA 0.90%). Walgreens is currently paying out a 4.41% yield and has raised its base annual payout in each of the past 46 years.

Generally, healthcare stocks are a relatively safe investment no matter how well or poorly the U.S. economy is performing. Since we have no control over when we get sick or what ailment(s) we develop, there’s a steady demand for prescription drugs, medical devices, and healthcare services.

However, Walgreens and its pharmacy peers found out the hard way that there are exceptions to the rule. Since pharmacies rely heavily on foot traffic, they were adversely affected by the COVID-19 pandemic. Walgreens saw weakness in its front-end retail sales, as well as its clinic revenue. But the good news is that this temporary weakness is allowing investors to buy a highly profitable company on the cheap.

Walgreens Boots Alliance is in the midst of executing a multipoint turnaround plan that’s geared at boosting its operating margins, lifting organic growth, and promoting repeat visits and engagement. To improve operating margins, the company is trimming the fat, so to speak. When its fiscal 2021 year ended Aug. 31, 2021, Walgreens announced it had reduced its annual operating expenses by north of $2 billion a full year ahead of schedule.

Yet, while the company is cutting costs, it’s also emphasizing digitization initiatives designed to promote convenience. Even though Walgreens’ brick-and-mortar locations will continue to generate the bulk of its revenue, encouraging consumers to purchase online should provide a nice sales boost.

There’s also Walgreens’ partnership with and majority investment in VillageMD . The duo have opened over 100 co-located clinics thus far, with a goal of reaching 1,000 clinics in more than 30 U.S. markets by 2027. The differentiating factor with these clinics is that they’re physician-staffed. Being able to handle more than just a sniffle should encourage repeat visits and bolster consumer engagement with the Walgreens brand. Image source: Getty Images. Antero Midstream: 9.16% yield

A second high-yield dividend stock with the ability to turn $300,000 into a cool $1 million by 2030 is energy middleman Antero Midstream ( AM 4.94%). Antero is yielding 9.16% at the time of this writing, which means its passive income alone, when reinvested, can double your money by 2030.

For some folks, the thought of putting their money to work in oil and gas stocks is enough to make them cringe. Let’s not forget that crude oil demand fell off a cliff 25 months ago during the initial stage of the pandemic. Ultimately, oil futures briefly traded as low as negative $40 a barrel.

As you can imagine, companies involved in oil and natural gas drilling were clobbered by this historic demand drawdown. However, midstream companies like Antero were in far better shape. Midstream businesses operate the infrastructure that helps move, transport, and sometimes refine, oil, natural gas, and natural gas liquids. In Antero Midstream’s case, it provides gathering, compression, processing, and water delivery for parent company Antero Resources ( AR 0.31%). The latter is one of […]

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