Friday, February 4th the Board of Directors of Brookfield Renewable (BEP) announced a quarterly dividend increase of from $ 0.304 to $ 0.32 per share that’s payable March 11, 2022 to holders of record February 15, 2022. This represents a 5.33% increase over the last quarterly dividend.
With current price $ 34.47 (yesterday's close), this raise brings their dividend yield to 3.71%.
Brookfield Renewable is a Dividend Contenders with a 13 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 5.0, 5.1, 5.1 and 5.8 (Dividend Champions.xls)
Since I own 188 shares of BEP, this will increase my portfolio's projected annual net dividend income by $ 9.08.
The increase was in line with my expectations.
This is the third dividend increase I've received from Brookfield Renewable since initiating a position in February 2019. During this period, the dividend has increased moderately from $0.274 to $0.32 or 16.8%.
This increase raises my YOC to 6.60%.
Summary of 2021 Dividend Increases / Cuts
Click here to see my portfolio holdings.
You can follow the development of my dividends here.
Full Disclosure: Long BEP
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