The Only Pure-Play Marijuana Dividend Stock Upped Its Payout for a Second Straight Quarter

The marijuana industry is a lot of things. It’s a potentially once-in-a-generation growth opportunity for investors, with up to $75 billion in full-year sales expected by the time 2030 rolls around. This rapid sales growth is a big reason more than a dozen marijuana stocks now have market caps that top $1 billion.

It’s also an industry with plenty of built-in risks considering that very few pot stocks are currently profitable, and that regulatory red tape has substantially held back the Canadian weed industry since recreational marijuana was legalized in October.

Dividends are a real rarity for marijuana stocks

However, one thing the marijuana industry is not (at least yet) is an income generator. Although there are marijuana stocks that pay a dividend, these companies aren’t what we’d consider “pure plays.”

For instance, Scotts Miracle-Gro generated 13% of its previous fiscal-year sales from its subsidiary, Hawthorne Gardening, which supplies lighting, soil, nutrient, and hydroponic solutions to the North American cannabis-growing industry. Although Scotts pays out a 2.5% yield, it still generates the bulk of its revenue from its lawn, garden, and crop-care products.

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