The boring utility sector is getting a huge dose of growth these days. And that’s coming from renewable energy. With subsidies and new state/federal spending plans, utilities have turned to renewables to power their cash flows and dividends. Our Best Dividend Stocks Model Portfolio pick is one of the top dogs in the renewables sector.
Our pick is one of the largest producers of renewable energy in the nation- with more than half of its 4,500 MW generation capacity coming from hydroelectric power. Additional capacity continues to grow via new wind and solar projects. Meanwhile, grid modernization through an aggressive smart metering program has generated additional returns.
Better still, our firm operates in one of the hottest and fastest-growing sections of the country. Filled with tech and healthcare start-ups, our pick has continued to see tremendous demand for energy. And that has boosted its cash flows and strong dividend profile.
Watch for when the stock goes ex-dividend on Friday, May 13 (estimated date).
You can check out the Best Dividend Stocks Model Portfolio to explore all the stocks.
