Dividend increase: Innergex

Article Excerpt

INNERGEX RENEWABLE ENERGY $13 (Toronto symbol INE; High-Growth Dividend Payer Portfolio, Utilities sector; Shares outstanding: 132.3 million; Market cap: $1.7 billion; Dividend yield 5.2%; Dividend Sustainability Rating: Above Average; www.innergex.com) operates 31 hydroelectric plants, 19 wind farms and one solar power field. The facilities are in Quebec, Ontario, B.C., Idaho, France and Iceland. With the April 2018 payment, the company raised its quarterly dividend by 3.0%, to $0.17 a share from $0.165. The new annual rate of $0.68 yields a high 5.2%. The company has now completed the acquisition of Alterra Power for $1.1 billion. That firm operates eight projects (three hydro, two wind, two geothermal and one solar) in Canada, the U.S. and Iceland. Alterra lets Innergex diversify geographically, both in the U.S. and Iceland. The expansion also adds a new energy source: Icelandic geothermal power. Innergex is a buy. For more information on Innergex, click HERE. HERE…