Tobacco giant Altria Group (NYSE: MO) has been one of the highest-yielding dividend stocks in the S&P 500 for quite a while. Its quarterly dividend is $1.02 per share and it offers a forward yield of over 8%. For perspective, the average dividend yield of the S&P 500 stands just above 1.3%.

Here are two passive income-producing dividend stocks that can help you advance your own journey toward financial independence.

Wall St. Insights Investors can expect 50 basis points of cuts before 2024 is over. Dividend stocks are an in-demand asset class as interest rates drop. Sit back and let dividends do the heavy lifting for a simple,