With the growth of renewables, low-carbon energy, and green technology, it’s safe to say that the utilities industry is one of transition. Those that have started to make the switch have plenty of potential for future growth. And that includes our latest pick in the Best Utility Dividend Stocks List.
Our pick is one of the largest utilities in the nation. But unlike a traditional utility that owns a monopoly on an area. Our pick is a so-called competitive power market utility. This focus is different and brings plenty of cash flows into its bottom line. Moreover, the last few years have been spent right-sizing its portfolio, reducing debt, and strengthening its bottom line.
The end result is a return to dividend growth and plenty of potential. And with more states looking to adopt competitive power markets, our pick has plenty of growth left in the tank. With a high 3.7% yield, it’s worth keeping an eye on the stock when it goes ex-dividend on Friday, April 29 (estimated date).
To make room for this electric utility pick, we were forced to remove another utility company.
You can check out the Best Utility Dividend Stocks List to explore all the stocks.
