This Magnificent Dividend Stock Sees a Supercharged Growth Opportunity Ahead
NextEra Energy (NYSE: NEE) stands out for its magnificent ability to grow its dividend. The leading utility has increased its payout for 30 straight years. Even better, it has grown its dividend at an 11% compound annual rate over the past decade.
What's remarkable about the company's supercharged dividend growth rate is it has come during a period of relatively flat U.S. power growth. That's about to change, with several catalysts powering accelerating demand for electricity in the coming years. This outlook should further enhance the utility stock's ability to grow its earnings and dividends in the future.
NextEra Energy's CEO, John Ketchum, highlighted the increasingly rosy outlook for U.S. power demand on the company's first-quarter conference call. He stated,
Source Fool.com
