Pattern Energy Group Inc. (TSX: PEG) is a San Francisco, California-based independent power company focused on owning and operating power projects. The company has interests in more than 16 wind power projects located in the U.S., Canada and Chile with total capacity of more than 2,800 megawatts (MW).
Pattern Energy Group currently offers a very attractive yield to income investors. The stock offers a yield of 5.45%. PEG also has a solid track record when it comes to dividend payments. The company also follows a progressive dividend policy.
Pattern Energy reported its first-quarter results last month. The company sold 1,801,034 MWh of electricity on a proportional basis in the first quarter of 2016. This compares to 935,981 sold in the same period in the previous year. The increase was mainly driven by projects which are acquired in May 2015 or became commercially operable since the third quarter of 2015.
The company reported adjusted EBITDA of $78.1 million for the quarter, compared to $46.7 million reported for the same period in the previous year. The increase in adjusted EBITDA was mainly driven by projects which commenced commercial operations or were acquired since May 2015.
