Canadian Dividend Stocks: Brookfield Renewable

There are a number of Canadian companies purporting to be sustainable right now, and many of these companies even pay dividends. Canadian dividend stocks have been rising to prominence in recent years as Canada receives attention for weathering the aftermath of the 2008 financial crisis. Many investors are looking to Canada as a source of opportunity.

And, of Canadians are already interested in what’s available to them in their home country. If you want to invest according to your values, and find sustainable companies — or at least companies that are a little more eco-friendly than their competitors — there are plenty of choices. One of these possibilities is Brookfield Renewable Energy Partners.

What Does Brookfield Partners Do?

Brookfield Partners (TSX: BEP.UN) is one of the largest pure-play renewable energy platforms that is publicly traded — in the world. The company concentrates largely on hydro power, and has a presence in 10 power markets and 67 river systems throughout Canada, Brazil, and the United States. Brookfield also includes wind energy. The company owns the Prince Wind Farm, as well as two other wind farms in Canada. Brookfield is building two wind farms in the United States, and recently acquired two wind farms in Canada.

Brookfield’s sustainability credentials include:

  • EcoLogo Program criteria met at 21 hydroelectric facilities
  • Low Impact Hydropower Institute certification at 43 facilities
  • ISO Accreditation
  • Member of the Canadian Electricity Association

Brookfield Renewable Energy Partners L.P. was launched relatively recently, combining the Brookfield Renewable Power Fund with the assets of Brookfield Renewable Power Inc. However, the company claims to have more than 100 years of experience in the energy field. The company just filed a 20-F registration statement with the SEC in the United States, in the hopes that it will be able to widen the investor base for the L.P. units. The company appears to be making efforts to increase its appeal in the United States, and its efforts as an international renewable energy player.

What about the Brookfield Renewable Energy Dividend?

BEP.UN recently boosted its annual dividend payout to 1.38 annually, paid quarterly at 34.5 cents per share. Brookfield offers a reinvestment plan (DRIP) as well. This means that you can get more shares by automatically reinvesting your dividend distribution without paying commissions. (If you’re in the U.S., though, there isn’t a DRIP option available.)

The yield remains at around five per cent. The market cap is 2,874.5 million as of this writing. There is a forward P/E of 53.82. Some of our readers had nicer things to say about BEP.UN than about TransAlta, probably because Brookfield appears to be trying to grow at a reasonable pace, while TransAlta is having some legal troubles. The dividend doesn’t seem likely to be cut anytime soon, and there are plenty of opportunities for growth for the company. However, as with all investments, it’s a good idea to do your own research, and consider how Brookfield might fit in with your portfolio. Utility companies, though, have traditionally been decent dividend payers, and with Brookfield in the $27 to $28 per share range lately, it might not be a bad deal.

What do you think about Brookfield Renewable?

9 comments to Canadian Dividend Stocks: Brookfield Renewable

  • I like to share something about dividend imputation. The dividend imputation system was introduced by the Hawke/Keating government in 1987. Generally, when a company earns profit, they will pay this out to their shareholders in the form of a dividend. Just like you or I, companies are required to pay tax on money earned, unlike the individual though, the company corporate tax rate is a flat 30%.

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