There are all kinds of firms which fall under the utility banner. But some of the best and most steadfast for income investors continue to be mid-sized regional power providers with monopolies in their area – and that sums up the opportunity with our latest Best Utility Dividend Stocks List pick.
Thanks to a strategic merger a few years ago, our pick is now one of the largest providers of electricity for a key growing region of the Midwest. With over 1.6 million customers under its umbrella, our pick has a stable base of revenues and cash flows to support its high yield of 3.2%.
And like most utilities, our pick has continued to embrace plenty of renewable energy into its portfolio of generation assets. This has included a hefty dose of wind, which it can maximize on by being situated in America’s heartland. With more subsidies for renewables in the various infrastructure plans, our pick has the ability to boost its revenues further while adding more capacity.
With a long history of dividend increases – from its former parents – and a steady base of customers, investors should watch for the stock when it goes ex-dividend next on Tuesday, June 7 (estimated date).
You can check out the Best Utility Dividend Stocks List to explore all the stocks.
