If it's passive income you're looking for, then you'll want to have a look at this S&P/ASX 200 Index (ASX: XJO) dividend star.
Namely diversified ASX 200 financial stock Macquarie Group Ltd (ASX: MQG).
Macquarie was founded in 1969, and the company began trading on the ASX in November 2007.
When it comes to passive income, Macquarie has a very reliable track record. The company has paid out two partly franked dividends every year since 2013.
Atop its juicy dividends, the Macquarie share price has also been on a strong upward trend over the past three months.
As you can see in the chart below, since 13 November, the ASX 200 financial stock has gained 21%.
So, alongside the passive income I'm aiming to bank for this ASX dividend star, I'll also be aiming to see some further share price gains to sweeten the pot.
Image source: Getty Images
Tapping this ASX dividend star for a $380 monthly passive income
Before running through the maths, take note that the yields you generally see quoted are trailing yields. Future yields may be higher or lower depending on a range of company-specific and macroeconomic factors.
With that said, Macquarie paid a final dividend of $4.50 a share on 4 July. The interim dividend of $2.55 a share will have landed in eligible investors' bank accounts on 19 December.
That equates to a full year's passive income payout of $7.05 a share.
At Friday's closing price of $192.50 a share, this ASX 200 dividend star trades on a trailing yield of 3.7%, 40% franked.
Now let's run the maths.
If I'm aiming for $380 a month in passive income (or a tidy $4,560 a year), I'd need to buy 608 Macquarie shares today.
And, as mentioned up top, I'll be hoping to supercharge those returns if the Macquarie share price keeps marching higher.
