Green energy demand spurs their dividends

Article Excerpt

BROOKFIELD RENEWABLE PARTNERS L.P. $38 (Toronto symbol BEP.UN; High-Growth Dividend Payer Portfolio, Utilities sector; Units outstanding: 310.0 million; Market cap: $11.8 billion; Dividend yield: 6.9%; Dividend Sustainability Rating: Above Average; www.bep.brookfield.com) has interests in 218 hydroelectric generating stations, 544 solar power fields, 105 wind farms, four biomass facilities and two natural gas-fired power plants. Brookfield last raised its quarterly distribution by 5.0%, with the March 2018 payment. The annual rate of $1.96 U.S. a unit yields a high 6.9%. Since 2012, Brookfield has developed and acquired over $3.5 billion U.S. in new facilities. That increased its total capacity from 4,200 megawatts to 17,400. The partnership sold roughly $1 billion U.S. in assets in 2018. The recent sale of $300 million U.S. in bonds also contributed to its cash of $2.3 billion U.S., which can be used for future investments. For example, Brookfield recently opened a 28 megawatt wind farm in Ireland. It’s also adding another 141 megawatts of energy-related projects, and has another 176 megawatts in the…