BEP - This 4.5%-Yielding Dividend Stock Continues to Add More Power to Its Growth Engine
2024-06-01 07:22:00 ET
Brookfield Renewable (NYSE: BEPC) (NYSE: BEP) is already growing briskly. The leading global renewable energy company has enough organic drivers to grow its funds from operations (FFO) per share by 7% to 12% annually through 2028. However, that's not stopping the company from pursuing accretive acquisition opportunities to accelerate growth.
The company is working to add even more power to its growth engine by investing in European renewable energy producer Neoen . Here's a closer look at the potential deal and how it could accelerate Brookfield's growth in the coming years.
Brookfield Renewable is partnering with its parent company, Brookfield Asset Management , and other institutional investors, including Singapore's Temasek, to purchase a majority stake in Neoen, a leading global renewable energy producer based in France. The group would buy that majority interest from Neoen's main investors and then purchase the rest of the company's shares at the same price from minority shareholders.
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This 4.5%-Yielding Dividend Stock Continues to Add More Power to Its Growth Engine