Generate high income with green power buys

Article Excerpt

The outlook for these two renewable power firms remains bright despite COVID-19’s impact on power demand, particularly from industrial users. The guaranteed contracts of both firms also give them lots of cash flow for dividends. BROOKFIELD RENEWABLE PARTNERS LP $58 is a buy. With the units (Toronto symbol BEP.UN; High-Growth Dividend Payer Portfolio, Utilities sector; Units outstanding: 308.7 million; Market cap: $17.9 billion; Dividend yield: 5.0%; Dividend Sustainability Rating: Above Average; www.bep.brookfield.com) you gain a stake in 219 hydroelectric generating stations, 103 wind farms and 4,947 solar-power facilities. In all, Brookfield operates over 19,300 megawatts of generating capacity, with another 13,000 megawatts under development. With the March 2020 payment, the partnership raised its quarterly distribution by 5.3%, to $0.5425 U.S. a unit from $0.515 U.S. Brookfield’s new annual rate of $2.17 U.S. yields a high 5.0%. Moreover, the partnership aims to raise its cash distributions by 5% to 9% annually. In March 2020, Brookfield agreed to acquire the 38% of TerraForm Power (Nasdaq symbol TERP) that…