This Magnificent Dividend Stock Is Supercharging Its Already Powerful Growth Profile
NextEra Energy (NYSE: NEE) has an outstanding record of paying dividends. The utility has increased its payout every year for the past three decades and has grown its dividend at a robust 11% compound annual rate over the past decade.
A big factor powering the utility's fast-growing payout is its focus on investing in renewable energy. Strong demand for clean energy should enable the company to continue growing its dividend at a strong clip in the future.
It recently agreed to accelerate the development of several solar energy and storage projects, which should supercharge its already strong growth profile. With its dividend yield currently double the S 500's (2.7% versus 1.3%), it can provide investors with a high-powered passive income stream.
Source Fool.com
