Income investors are always looking for high yield dividend stocks. The one concern before deploying capital into a stock, however, is whether the dividend is sustainable. The easiest thing to do is make an investment decision based on a stock’s price and current dividend yield. But this is only part of a proper investment decision process, which has multiple steps to determine the ultimate potential of a dividend paying stock.
Following this theme, I have searched for, found, and researched a company that offers both a steady and reliable income source and growth: Brookfield Renewable Partners LP (NYSE:BEP). Let me explain the company’s operations before getting into the dividend information. Brookfield Renewable Partners owns and operates renewable power assets, including hydroelectric and wind power producers, both of which are used to generate electricity for the general population. The company has assets in North and South America, as well as in Europe. BEP stock is in a category of high yield dividend stocks that has been growing year after year. The yield on BEP stock is 5.93%, compared to the S&P 500’s yield of 2.2%. The company pays a quarterly dividend to shareholders, which accounts for an approximate targeted payout of 70% from its annual cash flow.
Source: Income Investor
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