This Passive-Income Giant Has High-Powered Growth Ahead

Brookfield Renewable (NYSE: BEPC)(NYSE: BEP) has been an outstanding passive income stock over the years. The leading global renewable energy producer has increased its dividend payment for 11 straight years, growing it at a 6% annual rate since 2013. The company currently offers a dividend yield of more than 3%, roughly double that of an S&P 500 index fund. 

While Brookfield's dividend income is a big draw, investors shouldn't overlook its sizable growth prospects. Here's a closer look at what's driving the renewable energy company's growth.

Brookfield Renewable recently reported its second-quarter results. The company grew its funds from operations (FFO) by 10% over the prior-year period. It benefited from strong asset availability, higher power prices, and the positive impact of recently completed development projects and acquisitions. 

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Source Fool.com