It's getting hot and dusty on the old bargain-hunting trail. In fact, we started following the sun, and ended up tracking down a solar high dividend stock. This is a change of pace for us, since most of our articles cover fossil fuel-related high dividend stocks. This fairly new dividend stock yields 8.14%, with a 73% payout ratio, supported by long-term contracts. Mgt. just declared its 6th straight dividend hike. Mgt. guided for 12% dividend growth, and 40%-plus EBITDA growth in 2017.
point3 Energy Partners LP, (NASDAQ:CAFD) is a growth-oriented limited partnership formed by First Solar and SunPower to own, operate and acquire solar energy generation projects. Our primary objective is to generate predictable cash distributions that grow at a sustainable rate. We intend to achieve this objective by acquiring high-quality solar assets primarily developed by our Sponsors that generate long-term contracted cash flows and serve utility, C&I and residential customers in the US and other select markets.
Source: Seeking Alpha
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