This Dividend Aristocrat Sees Unstoppable Growth Ahead
NextEra Energy (NYSE: NEE) has been virtually unstoppable over the past few decades. The utility has increased its dividend for 28 straight years, the third longest streak in the sector. It has grown its payout at a 9.8% compound annual rate since 2006, an impressive rate for a utility.
The company doesn't expect its growth to stop anytime soon. Here's a look at what's ahead for the Dividend Aristocrat.
NextEra Energy has benefited from two growth drivers. The steady expansion of its electric utility in Florida (FPL) and its energy resources segment, which focuses on developing and operating clean energy infrastructure like renewable energy generating facilities, natural gas pipelines, and electricity transmission lines. These two segments have helped NextEra Energy grow its adjusted earnings per share at an 8.4% compound annual rate since 2006, giving it the power to steadily increase the dividend.
Source Fool.com
