MPLX Stock Pays a Hefty 7. 4% Dividend Yield. Here's How Much $10,000 Generates in Passive Income Each Year

If you've never heard of MPLX LP (NYSE: MPLX), you might want to get to know the company a little -- perhaps primarily because of its dividend yield, which was recently a whopping 7. 4%. With a 7. 4% dividend yield, a $10,000 investment will kick out about $740 in passive income in a single year. Park $25,000 in the stock, and you'll collect $1,850 for the year. Better still, healthy and growing dividend payers tend to increase their payouts over time, and MPLX is no exception. Its total annual payout of $4. 31 per share currently is up from $2. 82 in 2022 and $2. 04 in 2016. Its last increase was its 19th consecutive one, bumping its payout by more than 3%.