I love when you folks send me questions.

I love it even more when your questions lead me to an investing idea I can then share with you.

A lot of you ask me about tech dividend stocks. You’re looking for the growth of tech stocks – along with the income dividend payers provide.

That makes a lot of sense to me.

Even more of you ask me about pot stocks – and how to invest in them.

And just recently one of you asked me about dividend-paying legal cannabis stocks– about whether they even exist.

Well, they do.

After all, every Venn diagram has its union.

Of course, most cannabis growers and dispensaries haven’t been established long enough to make a profit, let alone pay a portion of their profits to shareholders in the form of dividends.

However, there are marijuana “pick-and-shovel” plays that offer hefty dividends.

Here are three of my favorite marijuana dividend stock plays now, plus one that is set to soar in the coming weeks.

Stake Your Claim

Marijuana pick-and-shovel plays allow investors to profit from the legal pot industry without the risk of owning stock in a startup company whose product is still illegal under federal law.

And because the plays I’m telling you about today pay dividends, investors can reinvest their cash rewards to maximize their future returns.

It’s like investing in Levi Strauss & Co. during the California Gold Rush of the 1840s and ’50s. Levi’s didn’t mine gold, but it supplied the garments for the thousands of men who did.

The company’s slogan back then was even “For Men Who Toil.”

Since then, Levi Strass has become the largest pants manufacturer in the world.

Something similar could happen to one of these three Marijuana Dividend Stocks.

Marijuana Dividend Stock No. 1: Scotts Miracle-Gro

Scotts Miracle-Gro Co. (NYSE: SMG) is well known for being a world leader in lawn and gardening care.

Now, the nearly 150-year-old company is making its move in the marijuana space – and it’s already started to pay off.

Nearly two years ago, Scotts’ CEO, Jim Hagedorn, purchased two companies that specialize in soil and fertilizer for cannabis growers. Then, one year later, he invested a 75% stake in Gavita International, a hydroponics equipment company.

Hydroponics is the method of growing plants without soil by using mineral nutrient solutions in a water solvent – a popular and highly effective way of growing cannabis, especially in densely populated areas.