Passive income is one way to make your money work for you. While passive income can come through many avenues, one way to get a steady stream is through dividend-paying stocks.

We screened our 24/7 Wall St. dividend equity research database, looking for stocks that pay massive dividends, and we found fifteen companies that combined can generate over $3000 a year in passive income if you invest just $1000 in each stock.

1. CVR Partners, LP (NYSE: UAN)

CVR Partners (NYSE: UAN) manufactures and sells fertilizers in the United States. The company owns two fertilizer production facilities, one in Coffeyville, Kansas, and one in Donaldsonville, Louisiana. Their products are used in many agricultural applications, including wheat, cotton, and rice. They were originally founded in 2007, and their headquarters is in Sugar Land, Texas.

$1000 invested in the shares at current trading levels would buy 13 shares that would produce $346 in income yearly.

2. Diana Shipping Inc. (NYSE: DSX)

Diana Shipping Inc. (NYSE: DSX) is a big shipping company that owns cargo ships, which they rent out to carry things like iron, coal, and grain. Currently, they have 41 dry bulk vessels, and they are currently expanding. The company was founded in 1999, so they have a longer history than many of the companies on this list.

$1000 invested in the shares at current trading levels would buy 347 shares that would produce $296 in income yearly.

3. Berry Corporation (NasdaqGS: BRY)

Berry Corporation (NasdaqGS: BRY) focuses on exploring for and producing oil and natural gas in the Western United States. They function primarily in the Bakken shale formation, which is located in North Dakota and Montana. They use various technologies to identify potential oil and gas reservoirs, bring specialized equipment to extract these products, and sell them.

$1000 invested in the shares at current trading levels would buy 146 shares that would produce $279 in income yearly.

4. Medical Properties Trust, Inc. (NYSE: MPW)

Medical Properties Trust, Inc. (NYSE: MPW) is a real estate investment trust that owns and leases hospital facilities. They’re basically a landlord for hospitals, providing the physical buildings for hospitals to operate in. They have a very large international portfolio of around 441 healthcare facilities. These range from general hospitals to more specialized hospitals, like behavioral health centers.

$1000 invested in the shares at current trading levels would buy 260 shares that would produce $189 in income yearly.

5. Eagle Point Credit Company Inc. (NYSE: ECC)

Eagle Point Credit Company Inc. (NYSE: ECC) is an investment company that focuses mostly on collateralized loan obligations (CLOs). They buy equity and junior debt loans, which are riskier but offer higher returns. This company provides investors with a way to participate in the CLO market, which can generate attractive returns.

$1000 invested in the shares at current trading levels would buy 260 shares that would produce $189 in income yearly.

6. Invesco Mortgage Capital Inc. (NYSE: IVR)

Invesco Mortgage Capital Inc. (NYSE: IVR) is a real estate investment trust focusing on mortgage-backed securities and similar assets. Simply put, they buy and sell investments related to mortgages. They generate income from the interest on these mortgages and through selling these investments to other companies.

$1000 invested in the shares at current trading levels would buy 114 shares that would produce $185 in income yearly.

7. Oxford Lane Capital Corp. (NasdaqGS: OXLC)

Oxford Lane Capital Corp. (NasdaqGS: OXLC) is another investment management company that focuses on collateralized loan obligations (CLOs). CLOs come with many risk profiles, but this company largely invests in senior and mezzanine debt tranches, typically considered lower risk. They also invest in equity tranches, though, which can be higher risk.

$1000 invested in the shares at current trading levels would buy 195 shares that would produce $182 in income yearly.

8. Abrdn Income Credit Strategies Fund (NYSE: ACP)

Abrdn Income Credit Strategies Fund (NYSE: ACP) invests in many different debt and loan instruments. Their main goal is to provide investors with regular payouts while also growing the value of their investments over time. They invest in everything from high-yield bonds to loans.

$1000 invested in the shares at current trading levels would buy 146 shares that would produce $179 in income yearly.

9. Global Net Lease, Inc. (NYSE: GNL)

Global Net Lease, Inc. (NYSE: GNL) is another real estate investment trust. They invest in commercial real estate properties, which are then leased to long-term tenants. Their agreements are net-leased, which means that the operating expenses and responsibilities are placed on the tenant. This setup allows the company to bring in a stable, predictable income.

$1000 invested in the shares at current trading levels would buy 123 shares that would produce $175 in income yearly.

10. Orchid Island Capital, Inc. (NYSE: ORC)

Orchid Island Capital, Inc. (NYSE: ORC) is also a real estate investment trust. However, they focus on investing in residential mortgage-backed securities. In other words, they invest in bundles of home loans. They’re able to get exposure to the real estate market without managing the loans individually.

$1000 invested in the shares at current trading levels would buy 117 shares that would produce $175 in income yearly.

11. AFC Gamma, Inc. (NasdaqGM: AFCG)

AFC Gamma, Inc. (NasdaqGM: AFCG) is a lending company that focuses on two main areas: commercial real estate lending and cannabis lending. Their loans are secured by real estate or other assets, reducing their risk. They also focus on established companies and long-term relationship building, helping to keep their income steady.

$1000 invested in the shares at current trading levels would buy 93 shares that would produce $175 in income yearly.

12. TPG RE Finance Trust, Inc. (NYSE: TRTX)

TPG RE Finance Trust, Inc. (NYSE: TRTX) establishes a bridge between companies looking to take commercial real estate loans and lenders who provide these loans. They acquire and manage the loans, targeting larger commercial projects that are over $50 million. They offer tons of different loan types, including construction and bridge loans.

$1000 invested in the shares at current trading levels would buy 175 shares that would produce $165 in income yearly.

13. Gladstone Investment Corporation (NasdaqGS: GAIN)

Gladstone Investment Corporation (NasdaqGS: GAIN) is a business development company that invests in mature, middle-market companies. They provide established, profitable businesses with the capital they need to fuel their growth and expansion. They provide equity and debt options, looking to establish long-term income streams.

$1000 invested in the shares at current trading levels would buy 69 shares that would produce $157 in income yearly.

14. BlackRock TCP Capital Corp. (NasdaqGS: TCPC)

BlackRock TCP Capital Corp. (NasdaqGS: TCPC) loans money to middle-market companies, particularly those that are looking to expand. They look for companies with established market positions and proven products. They offer these companies many loan types, allowing for greater flexibility.

$1000 invested in the shares at current trading levels would buy 90 shares that would produce $154 in income yearly.

15. Fidus Investment Corporation (NasdaqGS: FDUS)

Like many companies on this list, Fidus Investment Corporation (NasdaqGS: FDUS) is an investment company. They provide debt and equity financing to lower, medium-sized companies. They focus on growing established businesses that don’t qualify for traditional bank loans. Most of their investment companies have revenue between $10 million and $150 million.

$1000 invested in the shares at current trading levels would buy 50 shares that would produce $154 in income yearly.

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