Earn Passive Income for Years With This Dividend Aristocrat
Utilities can be great investments. They provide resources like electricity, gas, and water -- things everyone needs -- and the often regulated nature of the industry prevents competition from encroaching on business. Utility and energy producer NextEra Energy (NYSE: NEE) is the world's largest electric utility by market cap and a dividend rockstar.
This Dividend Aristocrat has crushed the S&P 500 since its inception while raising its dividend for 28 consecutive years. This stock offers a combination of growth and dividends that's hard to match -- can it continue? Here is why the stock could deliver dividends to shareholders well into the future and be a core holding for any long-term portfolio.
NextEra is an energy company with a couple of key cogs. It owns Florida Power & Light, the largest electric utility in the United States. It sells electricity to more than 5.8 million accounts in Florida, powering the needs of 12 million people. Utility companies work with regulators to establish pricing for the energy they sell in exchange for making capital investments to upgrade and maintain their energy infrastructure. This typically makes utility companies stable businesses.
Source Fool.com
