I am on a journey towards monetary independence. A key facet of my technique is to develop my passive revenue streams. I am working towards producing sufficient revenue to offset my recurring bills.I nonetheless have a protracted approach to go, however I am making regular progress. I am doing that by investing in high-quality dividend shares, specializing in these with higher-yielding payouts that steadily rise. I just lately purchased a number of extra shares of Chevron (NYSE: CVX), Realty Revenue (NYSE: O), and Verizon (NYSE: VZ). Here is why I consider they’ll assist me on my journey towards monetary freedom.Loads of gas to develop its payoutChevron is an elite dividend inventory. The oil large has elevated its payout for 37 straight years. It has grown its dividend quicker than the S&P 500 over the past 5 years and at greater than double the speed of its closest peer. Its most up-to-date increase was a strong 8%. I firmly consider Chevron can proceed rising its engaging dividend (it at the moment yields 4.2%). Lately, the corporate has sharpened its funding concentrate on its highest-return alternatives. That bolsters its view that it might probably improve its free money stream per share by greater than 10% yearly by way of 2027. This forecast assumes that oil will common round $60 per barrel. It might give the oil large the money to proceed investing in high-return enlargement initiatives, growing its dividend, and repurchasing shares on the low finish of its $10 billion-$20 billion goal vary. Chevron might develop its free money stream even quicker at increased costs (crude is at the moment over $80 a barrel). In the meantime, it has agreed to purchase rival Hess in a roughly $60 billion deal. That acquisition would improve and lengthen its progress outlook into the 2030s. Chevron believes it might double its free money stream by 2027 at $70 oil if it closes its Hess acquisition. Given these elements, Chevron ought to have greater than sufficient gas to proceed paying and elevating its high-yielding dividend. Story continuesAs constant because it getsRealty Revenue has lived as much as its title over time. The true property funding belief (REIT) has equipped its buyers with sturdy dividend revenue. It pays a month-to-month dividend, which it has elevated 124 occasions since its public-market itemizing in 1994, together with the final 106 consecutive quarters. It has boosted that payout at a 4.3% annual fee. The REIT shouldn’t have any downside persevering with to extend its high-yielding payout (at the moment 6%). It goals to develop its adjusted funds from operations (FFO) per share by 4% to five% yearly. Acquisitions are the primary enlargement driver. Realty Revenue invests billions of {dollars} every year to amass and develop extra income-producing actual property. The corporate has plenty of monetary flexibility to fund new offers due to its conservative dividend payout ratio (roughly 75% of its adjusted FFO) and elite stability sheet. Realty Revenue has an enormous progress runway. The entire addressable marketplace for properties it might purchase throughout the U.S. and Europe is a staggering $13.9 trillion. It has lengthened that runway by increasing into new property verticals like knowledge facilities, gaming, and extra European nations. A cash-flow machineVerizon is a monster dividend inventory. The telecom large at the moment yields 6.7%. That hefty payout is on an more and more agency basis.The corporate generates vital money stream. It produced $37.5 billion in money stream from operations in 2023, simply masking its $18.8 billion in capital expenditures and $11 billion in dividend funds. That enabled it to generate extra free money to additional strengthen its already strong investment-grade stability sheet. Verizon ought to proceed producing sturdy free money stream sooner or later. It has invested closely in constructing its 5G infrastructure, which ought to improve its income and money stream. In the meantime, capital spending is coming down (it needs to be between $17 billion and $17.5 billion in 2024). The telecom can also be working to chop $2 billion to $3 billion in working prices by 2025, whereas curiosity bills ought to fall because it repays debt. These catalysts ought to develop its free money stream, enabling Verizon to proceed elevating its dividend, one thing it has carried out for 17 straight years. Excessive-quality revenue stocksChevron, Realty Revenue, and Verizon examine all of the packing containers for me. The 2 largest are that they pay higher-yielding dividends that ought to proceed rising sooner or later. That is why I just lately purchased a number of extra shares. I anticipate to proceed including to those positions as a result of I consider they will assist me on my quest to succeed in monetary freedom by way of passive revenue.Must you make investments $1,000 in Chevron proper now?Before you purchase inventory in Chevron, contemplate this:The Motley Idiot Inventory Advisor analyst group simply recognized what they consider are the 10 greatest shares for buyers to purchase now… and Chevron wasn’t certainly one of them. The ten shares that made the minimize might produce monster returns within the coming years.Inventory Advisor supplies buyers with an easy-to-follow blueprint for fulfillment, together with steerage on constructing a portfolio, common updates from analysts, and two new inventory picks every month. The Inventory Advisor service has greater than tripled the return of S&P 500 since 2002*.See the ten shares*Inventory Advisor returns as of March 11, 2024Matt DiLallo has positions in Chevron, Realty Revenue, and Verizon Communications. The Motley Idiot has positions in and recommends Chevron and Realty Revenue. The Motley Idiot recommends Verizon Communications. The Motley Idiot has a disclosure coverage.Why I Purchased Extra of These High Excessive-Yield Dividend Shares was initially revealed by The Motley Idiot