Despite the coronavirus pandemic disrupting much of the global economy for over two months now, Brookfield Renewable Partners (BEP) is still a retiree's dream stock due to its:
- Recession, pandemic, and disruption-resistant business model
- Global diversification
- Strong BBB+ balance sheet and A-rated backing from its parent Brookfield Asset Management (BAM)
- Safe and growing distribution
While shares are not cheap (I rate the stock as a hold), it remains an attractive pick for conservative dividend growth investors that want an attractive balance of current income and inflation-beating income growth.