These green utilities offer steady dividends

Article Excerpt

Governments continue to encourage the construction of new renewable projects. That makes green power utilities a great source of steady income for dividend seekers. Moreover, institutional investors are increasingly buying stocks with high ESG (environmental, social and governance) scores. That rising interest only heightens the long-term appeal of these two stocks. ALGONQUIN POWER & UTILITIES CORP. $20 is a top pick for 2020. The company (Toronto symbol AQN; High-Growth Dividend Payer Portfolio, Utilities sector; Shares outstanding: 590.7 million; Market cap: $11.8 billion; Dividend yield: 4.0%; Dividend Sustainability Rating: Above Average; www.algonquinpower.com) operates through two main businesses: the Renewable Energy Group relies on 40 clean energy facilities across North America to produce and sell electricity; and the Regulated Services Group provides regulated electricity, natural gas, water distribution and wastewater collection services. Algonquin last raised your quarterly dividend by 10.0% with the July 2020 payment, to $0.1551 U.S. a share from $0.1410 U.S. The company’s shareholders receive an annual rate of $0.6204 U.S., which yields a high 4.0%….