Brookfield Renewable consistently raises dividend, expects over 10% FFO growth, positive.

From Nasdaq: 2024-05-05 06:14:00

Brookfield Renewable (NYSE: BEPC) has consistently raised its dividend by 6% annually since 1999, offering a 5% yield. With strong first-quarter results, the company expects over 10% FFO per share growth through 2028, supported by a massive renewable energy project with Microsoft. Investors can expect solid returns and a growing dividend.

The technology sector’s energy needs are growing, with tech giants like Microsoft signing power agreements with Brookfield Renewable. A landmark deal will see Brookfield deliver 10.5 GW of renewable energy capacity to Microsoft by 2030. This positions Brookfield for significant FFO growth and potential annual returns in the mid-teens.

Brookfield Renewable’s strong earnings outlook supports its target of increasing the dividend by 5%-9% annually. The company expects robust FFO per share growth through at least 2028, driven by renewable energy projects for technology titans. With solid cash flow and growth prospects, Brookfield is a top dividend stock to consider for the long term.

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Read more at Nasdaq: This Magnificent 5%-Yielding Dividend Stock Has the Power to Deliver Supercharged Growth Through 2030