Topic: How To Invest

Dividend Advisor Hotline – Friday, March 29, 2019

Article Excerpt

INNERGEX RENEWABLE ENERGY INC., $14.08, Toronto symbol INE,operates 34 hydroelectric plants, 25 wind farms, three solar power fields and two geothermal facilities. Those operations are spread across the provinces of Quebec, Ontario and British Columbia, as well as Idaho, France and Iceland. The company gets 46% of its power from hydro, 45% from wind, 5% from geothermal and 4% from solar energy. With the April 2019 payment, Innergex will increase its quarterly dividend by 2.9%, to $0.175 a share from $0.17. The new annual rate of $0.70 yields a high 5.0%. This week, the company agreed to sell its assets in Iceland. It operates in that country though its 53.9% stake in HS Orka hf, which owns two geothermal power projects and is building a run-of-river hydro project. Innergex will receive $408.8 million when it completes the transaction, probably before June 30, 2019. To put that amount in context, its cash flow was $209.4 million in 2018. The company will use the proceeds of…

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