Brookfield Renewable (NYSE: BEPC)(NYSE: BEP) has done an absolutely magnificent job paying dividends over the years. The renewable energy producer has increased its payout by at least 5% annually for the last 13 straight years. That steady growth has helped drive its dividend yield up to nearly 5%.

The leading renewable energy dividend stock expects to continue increasing its payout in the future, targeting 5% to 9% annual growth. Given its robust growth prospects, which are only growing stronger thanks to artificial intelligence (AI), dividend growth toward the high end of its range seems increasingly likely.

Brookfield Renewable has grown briskly over the years. The company's funds from operations (FFO) have risen at a 12% compound annual rate since 2016. Meanwhile, Brookfield has increased its dividend at a 6% compound annual rate since 2001.

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Source Fool.com