Alternative energy is the fastest growing segment of the energy industry, and many alternative energy stocks offer high yields, because their facilities generate stable and predictable cash flows. With this is mind, let’s take a closer look at two clean energy stocks with yields over 4% that you could buy today.
Innergex Renewable Energy Inc.
Innergex Renewable Energy Inc. (TSX:INE) is a pure-play renewable energy company with a focus on hydro assets. Its portfolio currently consists of ownership interests in 52 facilities, including 31 hydroelectric facilities, 20 wind farms, and one solar farm, which are located across Ontario, Quebec, British Columbia, France, and Idaho, USA.
Innergex pays a quarterly dividend of $0.165 per share, equal to $0.66 per share annually, which gives it a yield of about 4.5%. It’s also important to note that the company’s 3.1% dividend increase in February has it on pace for 2017 to mark the fourth straight year in which it has raised its annual dividend payment, making it both a high-yield and dividend-growth play today.
Northland Power Inc.
Northland Power Inc. (TSX:NPI) is an independent power producer with a focus on clean and green energy. Its portfolio currently consists of ownership interests in 26 facilities, including 13 solar farms, eight thermal facilities, and five wind farms, which are located across Ontario, Quebec, Saskatchewan, and Germany.
Northland Power pays a monthly dividend of $0.09 per share, equal to $1.08 per share annually, giving its stock a yield of approximately 4.75% today. Investors should also note that the company has maintained its current annual dividend rate since 2009, making it a very reliable income provider.
