Generating income can help you get on the path to financial freedom. It can help to fix some of your expenses, reducing the time you need working hard to support your lifestyle. When you can generate passive income, you will be less dependent on your job for income.
Buying dividend paying stocks is a great way to start earning long term net worth. Two great dividend stocks you can buy for cash now Brookfield Renewable (NYSE: BEPC)(NYSE: BEP) again Enbridge (NYSE: ENB). See pay high yield dividends that should continue to grow in the coming decades.
Brookfield Renewable paid a a lot reliable dividend in the past a couple of decades. The best world renewable energy The manufacturer has increased its payout at a compound annual rate of 6% since 2001. It has increased his pay by at least 5% each year since 2011.
This company This company paid a dividend of 5.6 %. That is several times higher than S&P 500‘s paid a dividend of 1.2 %. At that rate, every $100 invested in Brookfield Renewable stock will generate $5.60 in annual dividend each year. That compares to only about $1.20 in profit from the same investment in the S&P 500 index fund.
Brookfield Renewable aims to grow its profits at an average annual rate of 5% to 9% over the long term. It should have a lot of power to achieve that target. The company has several drivers for growth, including inflation-related rate hikes, rising energy prices, development projects, and acquisitions. Those catalysts drive the company’s perception that it can increase its operating income (FFO) per share at an annual rate of over 10% over the next decade.
Development projects a big a growth driver for Brookfield Renewable. It currently has a whopping 200 gigawatts (GW) of projects under development, compared to its 37 GW operational portfolio. It also has about 65 GW of projects in its advanced stage that should be completed by 2030. The development projects to grow its FFO per share by approximately 4% to 6% annually over the next few years. With demand for renewable energy only expected to continue to grow, Brookfield should be able to continue growing for decades to come.
Enbridge has been a very reliable dividend stock. The Canadian pipeline and utilities company has paid dividends to its investors for nearly 70 years and has raised its payout every year for the past 30 years in a row. Its budget currently yields more than 6%.
The company generates very stable cash flow to support its high-yielding dividends. About 98% of its profits come from fee-for-service agreements or long-term contracts. Those agreements give Enbridge more visibility into its profits. That is evidenced by the fact that it was on track to deliver its 19th consecutive year of achieving its guidance for the financial year 2024.
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