Friday, February 3rd the Board of Directors of Brookfield Renewable (BEP, BEPC) announced a quarterly dividend increase of from $ 0.32 to $ 0.3375 per share that’s payable March 31, 2023 to holders of record February 28, 2023. This represents a 5.47% increase over the last quarterly dividend.
BEPC at the current price of $30.23 (yesterday's close), this raise brings their dividend yield to 4.47%.
Brookfield Renewable is a Dividend Contenders with a 14 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 5.3, 5.2, 5.1 and 5.7 (Dividend Champions.xls)
Since I own 200 shares of BEPC, this will increase my portfolio's projected annual net dividend income by $10.43.
The increase was in line with my expectations.
This is the fourth 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 $0.3375 or 23.2%.
This increase raises my YOC to 5.22%.
Summary of 2023 Dividend Increases / Cuts
Click here to see my portfolio holdings.
You can follow the development of my dividends here.
Full Disclosure: Long BEPC
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