TERP - This 4.7%-Yielding Renewable Energy Stock Is on Track for High-Powered Growth
Earlier this year, TerraForm Power (NASDAQ: TERP) laid out an ambitious long-term plan. The renewable-energy company wants to increase its dividend -- which currently yields 4.7% -- at a 5% to 8% annual rate through 2022 while maintaining a healthy payout ratio. That dividend growth strategy potentially sets it up to generate market-beating total returns.
While TerraForm is only a few months into its growth plan, it has already delivered strong results. That was one of the key themes of the company's second-quarter conference call. Here's why the company believes it's well positioned to achieve its dividend growth plan.
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