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Brookfield Renewable (NYSE: BEPC, NYSE: BEP) has grown its dividend at a compound annual rate of 6% since 2001, contributing to an average total return of 15.6% per year for its investors. The company projects that a $1,000 investment made in July 2023 could exceed $4,250 by mid-2035, based on similar returns over the next decade.
Brookfield Renewable currently offers a dividend yield of approximately 4.5%, significantly higher than the S&P 500’s yield of less than 1.5%. The firm operates with 90% of its electricity sold under long-term power purchase agreements (PPAs) with an average duration of 14 years, helping to sustain its cash flow and predictably increase funds from operations (FFO) by 2% to 3% annually. Additionally, Brookfield has 74 gigawatts (GW) of renewable energy projects in its advanced pipeline, almost double its current 45 GW operating capacity, with plans to commission 10 GW annually by 2027.
Recent acquisitions include a 3.9 GW deal to buy National Grid’s U.S. onshore renewable-energy platform, which adds more than 30 GW of development projects. Brookfield estimates that these initiatives will help grow its FFO per share by over 10% annually for the foreseeable future.
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