Are You Missing Out on This Stock's Recent Dividend Surge?
Most utilities aren't growth stocks. At best, they'll deliver mid-single-digit earnings growth, giving them the power to increase their dividends at a similar rate. Because of that, many growth-focused investors don't pay much attention to the sector.
However, NextEra Energy (NYSE: NEE) isn't your average utility stock. It recently put another charge in its dividend, boosting it by 10%. That has continued its surge over the past decade. It could have the power to continue growing its payout at a double-digit rate. Here's why dividend growth investors won't want to miss out on NextEra Energy's rapidly rising payout.
NextEra Energy recently paid its latest dividend. The quarterly rate surged nearly 10% to $0.515 per share. That's a high growth rate for any company, considering that the average member of the S 500 increased their dividend by 7% last year. However, it has been the norm for NextEra Energy in recent years. The utility has grown its payout at an 11% compound annual rate since 2013.
Source Fool.com
