Looking for Consistent Passive Income? These 2 High-Yield Dividend Stocks Are Great Options.

When many people think of making money from stocks, they automatically think of a company's stock price increases. That makes sense; it's straightforward and easy to comprehend: buy a stock for one price, sell it for a higher price, and make money. Simple enough.

Despite not getting the attention of capital gains, dividends can also be a great way to build wealth. It's often a less stressful way to make money from stocks, too. You don't have to worry about stock price movements -- which are typically unpredictable and irrational -- you just need patience and trust that you'll receive your quarterly (and sometimes monthly) payouts.

The following two companies are great options if you're looking for consistent passive income that you can rely on long-term. They each have high dividend yields and businesses that have stood the test of time.

1. Altria Group

Altria (NYSE: MO) itself may not be the biggest household name, but some of the brands it owns -- such as Marlboro, Black & Mild, and Copenhagen -- surely are. It's the country's largest tobacco company, holding a 46.9% market share in cigarettes alone.

Altria recently announced a dividend increase, marking its 55th straight year of doing so. It's one of a small batch of companies to get the esteemed title of Dividend King (companies with at least 50 years of dividend increases).

Altria's current quarterly dividend is $1.02, with a forward yield of around 8.1%. It's routinely one of the highest yields you'll find from an S&P 500 stock. Even with its stock rising 20% this year, its yield remains near the top.

As the tobacco leader, Altria has felt the effects of declining smoking rates, with U.S. adult smoking rates at a historical low. Its volume has taken a hit, but the addictive nature of tobacco products has afforded Altria pricing power to offset this a bit.

By no means is "just raise prices anytime volume falls" a sustainable strategy in the long term, but it does buy Altria some time as it tries to become less reliant on cigarettes. It's admittedly had some missteps in its smoke-free segment (see: the Juul disaster), but its new product, NJOY, has been picking up steam.

In the latest quarter, NJOY consumables shipment volume increased by 14.7% from the previous quarter, and its NJOY device shipments increased by 80%. Those numbers helped boost its retail share by 1.3 share points to 5.5%. The retail share seems small, but it's progress for a product that's only been in Altria's portfolio since June 2023.