The key with dividend growth investing is to let the power of compounding do the work. You might have heard of something called the “rule of 72,” which is an easy way to calculate how long it would take for an investment to double at a fixed rate of interest. All you need to do is divide the number 72 by the annual rate of return, and the result is an estimate of the number of years it would take for the investment to deliver 100% return. While the “rule of 72” is often used to estimate portfolio return, it can also be applied to the calculation of a future income stream.
For investors of Brookfield Renewable Partners LP (NYSE:BEP), that income stream is provided by the company’s dividends. Right now, the partnership pays quarterly distributions of $0.4645 per unit. Since BEP stock trades at $33.05 apiece, its quarterly payout translates to an annual yield of 5.6%.
Source: Income Investors
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