3 Top Dividend Stocks to Buy this April for Boosting Passive Income
By Matt DiLallo, The Motley Fool
March 30, 2025
As investors seek steady income streams to support their financial goals, dividend-paying stocks remain a favored choice. Building passive income through dividends can be a key strategy to eventually cover living expenses without actively working. This April, I am excited to add shares of three standout dividend stocks to my portfolio: Vici Properties (NYSE: VICI), PepsiCo (NASDAQ: PEP), and Genuine Parts Company (NYSE: GPC). Each offers a unique combination of attractive yields, consistent dividend growth, and strong business fundamentals that can help boost my passive income steadily over time.
Vici Properties: A High-Yield REIT with Steady Growth
Vici Properties is a real estate investment trust (REIT) that currently offers a compelling dividend yield of 5.4%. This means every $100 invested can generate $5.40 annually, significantly higher than the S&P 500 average yield of around 1.3%. The company specializes in experiential real estate properties such as casinos and entertainment venues, executing sale-leaseback transactions and originating loans secured by these assets.
What makes Vici especially attractive is its consistent dividend growth record. The REIT has raised its dividend annually since its inception, marking seven consecutive years of increases as of last year. Its dividend growth rate notably outpaces peers in the triple net lease REIT sector, boasting a 7% compound annual growth rate compared to the sector average of 2.2%.
Vici’s conservative financial approach supports continued expansion, allowing it to acquire new properties and responsibly increase its dividend payments. For income-focused investors looking for a reliable and growing payout, Vici Properties presents a solid low-risk investment opportunity.
PepsiCo: A Dividend King with Steady Income and Strong Growth Prospects
PepsiCo is a globally recognized beverage and snacks powerhouse, currently yielding 3.6%. The company is well-known for its remarkable dividend growth streak, having announced a planned 5% dividend increase starting in June 2025. This will extend PepsiCo’s record to 53 consecutive years of dividend hikes, placing it among the elite “Dividend Kings” — companies with more than five decades of consecutive dividend growth.
PepsiCo’s robust cash flow generation — with significant capital spending around $5 billion annually — supports ongoing investments in productivity, innovation, and capacity expansion. The company targets organic revenue growth of 4% to 6% per year, alongside expanding margins aimed at delivering high-single-digit earnings-per-share growth over the long term.
Strategic acquisitions further bolster PepsiCo’s growth outlook. The recent purchases of Poppi, a fast-growing lower-calorie soda maker, and Siete Foods, a health-conscious food brand, plus full ownership of Sabra and Obela dips, demonstrate a continued focus on diversifying and strengthening its product portfolio. These factors collectively underpin sustained dividend growth potential.
Genuine Parts Company: A Reliable Dividend Growth Engine with a Strong Cash Profile
Genuine Parts, a leading supplier in the automotive parts industry, offers a 3.5% dividend yield with a prestigious 69-year streak of consecutive dividend increases. This remarkable consistency highlights the company’s ability to generate steady and growing cash flow to support shareholder payouts.
In 2024, Genuine Parts is expected to produce $1.2 billion to $1.4 billion in net cash from operating activities, with free cash flow after capital expenditures projected between $800 million and $1 billion. These ample cash flows more than cover dividends paid, which totaled $555 million last year.
The company is also committed to growth. Last year, Genuine Parts invested $1.5 billion in total, including $567 million for capital expenditures and over $1 billion for acquisitions. Its strategy involves buying up independent owners of its flagship NAPA Auto Parts dealerships, enabling steady expansion and reinforcing its leadership position in the sector.
Conclusion
For investors seeking to enhance passive income this April, Vici Properties, PepsiCo, and Genuine Parts Company each offer a compelling case. Their combination of attractive yields, proven dividend growth histories, and sound financial positions make these stocks well-suited to support long-term income goals. By adding more shares of these companies, I aim to build a reliable and growing income stream to help meet my financial independence objectives.
Disclosure: This article is for informational purposes only and does not constitute financial advice. Investors should conduct their own research or consult a financial advisor before making investment decisions.