2022 Stocks of the Year for income

Article Excerpt

For 2022, we’ve once again selected three top picks for dividend-seeking investors. All three provide you with sustainable, above-average yields. What’s more, we expect they will continue to raise their payments for many years to come. ALGONQUIN POWER & UTILITIES CORP. $17 is a top pick for 2022. The company (Toronto symbol AQN; High-Growth Dividend Payer Portfolio, Utilities sector; Shares outstanding: 671.9 million; Market cap: $11.4 billion; Dividend yield: 5.1%; Dividend Sustainability Rating: Above Average; www.algonquinpower.com) has two main businesses: the Regulated Services Group provides regulated electricity, gas, water distribution and wastewater collection services in Canada, the U.S., Chile and Bermuda; and the Renewable Power Group produces electricity from about 40 clean-energy plants in North America. Algonquin tends to fuel its growth with acquisitions. It cuts the risk of that strategy by focusing on rate-regulated utilities. The company’s latest purchase is Kentucky Power Co., which serves 228,000 customers in that state. Algonquin will pay $2.85 billion U.S. when it completes the purchase in mid-2022. It sold $646…