3 High-Yield Dividend Stocks I Can't Wait to Buy in June to Boost My Passive Income

My long-term financial goal is to generate enough passive income to cover my basic living expenses. Reaching that level of financial freedom would relieve some pressure and give me more flexibility.

A core aspect of my strategy is investing in high-yielding dividend stocks. I focus on companies that pay well-supported dividends that should grow in the future. Three of my favorites are Brookfield Infrastructure (NYSE: BIPC)(NYSE: BIP), Brookfield Renewable (NYSE: BEPC)(NYSE: BEP), and W.P. Carey (NYSE: WPC). Here's why I can't wait to buy more of each one this June.

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Megatrend-driven dividend growth

Brookfield Infrastructure operates a globally diversified portfolio of crucial economic infrastructure across the utility, midstream, transport, and data sectors. The company's assets include pipelines, electricity transmission lines, toll roads, telecom towers, and data centers. These assets generate very stable, steadily rising cash flows, supported by long-term contracts and government-regulated rate structures with built-in inflation escalators (85% of its funds from operations, or FFO, in 2026).

The company aims to pay out between 60% and 70% of its stable cash flows as dividends (it currently yields more than 4%). Brookfield retains the rest to reinvest in growing its operations. The company also has a strong investment-grade balance sheet to support its dividend and growth. Additionally, Brookfield routinely recycles capital by selling mature assets to fund higher-returning new investments. It focuses on investing in infrastructure benefiting from global megatrends, including digitalization, decarbonization, and deglobalization.

Brookfield's organic growth drivers (inflation-linked rate increases, volume growth as the global economy expands, and expansion projects) should support 6% to 9% annual FFO per share growth. Meanwhile, acquisitions funded through its capital recycling initiatives should boost its growth rate above 10% annually. That supports the company's plan to grow its dividend by 5% to 9% per year. Brookfield has increased its payout every year since its formation 17 years ago, growing it at a 9% compound annual rate.

Powerful growth tailwinds

Brookfield Renewable is the renewable energy-focused sibling of Brookfield Infrastructure. It operates one of the world's largest publicly traded renewable power and sustainable solutions platforms. Brookfield Renewable generates stable and growing cash flows backed by long-term contracts (90% of its FFO) that link rates to inflation (70% of its revenue). The company's stable cash flows support its nearly 4%-yielding dividend.

Inflation-linked rate increases, margin enhancement activities, and development projects should power 8% to 13% annual FFO per share growth over the next five years. Brookfield is currently ramping up its development activities to support surging demand for power by AI data centers and other drivers. Additionally, Brookfield routinely recycles capital to make value-enhancing acquisitions. That drives its view that it can grow FFO per share by more than 10% annually through 2031.

Brookfield Renewable also expects to grow its high-yielding dividend by 5% to 9% each year. It has raised its payout by at least 5% per year since 2011.

Income backed by mission-critical properties

W.P. Carey is a real estate investment trust (REIT). It owns a well-diversified portfolio of operationally critical warehouse, industrial, and retail properties across North America and Europe secured by long-term net leases with built-in rent escalations. These properties generate very stable and steadily rising rental income to support the REIT's nearly 5%-yielding dividend.

The REIT's leases deliver low-to-mid single-digit annual rent growth. W.P. Carey complements this growth by investing in additional income-generating properties. It invests in build-to-suit projects, completes sale-leaseback transactions, and buys real estate portfolios from other investors. It funds these new investments with post-dividend free cash flow, non-core property sales, its strong balance sheet, and stock sales.

W.P. Carey has increased its dividend every quarter since resetting the payout in late 2023 following its strategic decision to exit the office sector, including by 4.5% over the past year. Its payout should continue growing at a low-to-mid single-digit rate, roughly matching its adjusted FFO growth rate.

Ideal income investments

Brookfield Infrastructure, Brookfield Renewable, and W.P. Carey generate stable and steadily rising cash flows to support their high-yielding dividends. They also have rock-solid financial profiles to drive their continued growth. Their high-yielding and steadily rising payouts will help me achieve financial freedom faster, which is why I can't wait to buy even more shares this June.

Matt DiLallo has positions in Brookfield Infrastructure, Brookfield Infrastructure Partners, Brookfield Renewable, Brookfield Renewable Partners, and W.P. Carey. The Motley Fool recommends Brookfield Infrastructure Partners, Brookfield Renewable, and Brookfield Renewable Partners. The Motley Fool has a disclosure policy.