Where Will NextEra Energy Be In 3 Years?
NextEra Energy (NYSE: NEE) is an odd duck in the normally boring utility sector, given that it has increased its dividend at an incredible 10% clip over the past decade. That's massive for a utility, but isn't an anomaly for the company, which expects to grow the disbursement at roughly the same amount through at least 2024. Here's where NextEra will be in three years if everything works out as planned.
It makes sense to start with the dividend here. First, NextEra Energy is a Dividend Aristocrat with over 25 years of annual dividend increases under its belt. That's not uncommon in the utility space, but it is still an impressive showing of support for income investors. As noted, the dividend has grown at an annualized rate of more than 10% over the past 10 years, but that rate was around 11% over the trailing three- and five-year periods. This utility is a dividend machine.
Image source: Getty Images.
Source Fool.com
