2024-04-09 23:55:49 ET
Summary
- NextEra Energy's 10% dividend hike is set to be matched every year until 2026.
- The electric utility is guiding for EPS growth of at least 7% per year over the next five years.
- Pending Fed rate cuts and a healthy policy environment for renewables will form levers for near and medium-term outperformance.
NextEra Energy ( NEE ) is an incredible dividend growth machine. The electric utility last declared a quarterly cash dividend of $0.515 per share , a remarkable 10% hike sequentially and $2.06 per share annualized for a 3.2% dividend yield. NEE has also guided to grow its dividend by at least 10% per year for the next two years until 2026, cementing its status as an exceptional shareholder-aligned dividend aristocrat. This title is revered for companies that have consecutively raised their dividend every year for at least 25 years. At its $132 billion market cap, NEE is the largest electric utility in the US. The company has 72 gigawatts in operation and operates through Florida Power & Light ("FPL") and NextEra Energy Resources ("NEER")....
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For further details see:
NextEra Energy: Why I Bought The 3.2% Dividend Yield Of This Electric Utility