This Magnificent High-Yield Dividend Stock Thinks Its Shares Are a Buy (and It's Putting Money Behind That View)
This year has been the best of times and the worst of times for Brookfield Renewable (NYSE: BEP)(NYSE: BEPC). On the one hand, the company is having a stellar year. It has secured several needle-moving acquisitions. Those deals have it on track to grow its funds from operations (FFO) by more than 10% again this year.
But despite that success, shares currently sit nearly 30% below their 52-week high. That has pushed the renewable energy company's dividend yield up to around 5.5%. It has a magnificent record of increasing its dividend, growing it by at least 5% annually for the last dozen years.
Brookfield believes this sell-off makes its shares too good to pass up. Here's why it thinks that and what it's doing about it.
Source Fool.com