Often, utilities are seen as boring stocks, providing nothing but steady dividends to investors. However, in recent years, many have taken on a “growth” moniker as renewables, low-carbon energy and green technology have become the norm. Case in point, our latest pick in the Best Utility Dividend Stocks List.
Our pick is one of the largest electricity generators in California. This interesting regulatory environment makes for some strong revenues. A huge population base provides a steady base of cash flows, while subsidies for green energy and renewables and decent rate increases from using these generation assets provides a good boost to earnings.
The end result is a large utility with plenty of growth potential. Adding to that potential has been recent legal wins and lower settlement amounts with ongoing wildfire lawsuits. With those now behind it and growth ahead, investors should keep an eye on the stock when it goes ex-dividend on Friday, July 15 (estimated date).
You can check out the Best Utility Dividend Stocks List to explore all the stocks.
