This 7.5%-Yielding Dividend Stock Has a Powerful Emerging Growth Driver
For several decades, fossil fuels have powered Enbridge's (NYSE: ENB) dividend. The Canadian pipeline and utility operator has paid dividends for over 69 years. It has increased its payout for the past 29 straight years, fueled primarily by the growing cash flows of its fossil fuel infrastructure operations.
Oil and gas will remain vital fuel sources for Enbridge's high-yielding dividend, currently 7.5%, for at least the next several years. However, the company has another driver that could deliver powerful growth in the decades to come: renewable energy. Here's a closer look at this emerging growth driver.
Enbridge has a sizable renewable energy platform. It operates 5.3 gigawatts (GW) of capacity across North America and Europe. That's enough to deliver clean energy to 5.7 million people. The company's renewable energy operations include onshore wind and solar energy facilities across the U.S. and Canada and several offshore wind farms in Europe.
Source Fool.com
