Lump sum cash investment for dividends

I would suggest monthly dividend payout fixed income unit trust for diversification, consistent and predictable cashflow.

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Stocks dividend are either half yearly or quarterly and dividend amount vary.

Hi. I understand that you are looking for income, but at the same time want to protect your capital at the same time right? Dividend stocks gives you the income, but I would not say that your capital is protected or maintained. Because it is still an equity, it is still subjected to valatility.

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Maybe you can take a look at REITs, where arguable price are more in tandem with the real estate market. REITS have an attractive dividend yield that is hgher than most other dividend stocks. However REITS will be subjected to a different set of risks.

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Personally I would feel that investing in a corporate bond ETF will suite you better. While the yield is not as high as dividend stocks, there is much less volatility to it, which I feel is important considering your age.

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At the end of the day, there is no right or wrong. You just need to find out what kind of risks you are willing to take.