Brookfield Faces Lawsuit for Violations of Endangered Species Act on Kennebec River
May 13, 2021
May 13, 2021 (Augusta, ME) Three conservation groups have announced they intend to sue the international energy giant Brookfield Renewable Partners (Brookfield) for repeated violations of the Endangered Species Act (ESA) on Maine’s Kennebec River.
Brookfield’s four dams located between Waterville and Skowhegan are threatening the survival of endangered Atlantic salmon, according to a notice of intent to sue (NOI) letter filed by the Conservation Law Foundation, Maine Rivers, and the Natural Resources Council of Maine. Brookfield’s authorization to “take” Atlantic salmon trying to pass upstream and downstream through the dams expired in 2019, and since that time the company has continued to kill fish, in clear violation of the ESA.
This 3.36% Dividend Stock Has Over 100% Upside From Today!
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Last year,
TSX dividend stocks took a serious hit with the February and March 2020 sell-off. Equity securities across the board seemed to fall off a cliff, regardless of fundamentals, as the pandemic-fueled sell-off frenzy ensued with the onset of COVID-19.
The swift market crash led to several high-quality dividend stocks trading at deeply discounted valuations and inflated dividend yields. A rapid recovery saw many opportunistic value investors rake in substantial profits.
Most indices in the equity markets are running at or near all-time highs right now. It may seem impossible to find high-quality dividend stocks that can still offer over a 100% upside from valuations today. However, there may be a dividend stock worth having on your radar that boasts a decent and sustainable dividend yield with the potential of massive upside.
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Don’t let the fact that the Canadian stock market is soaring right now make you think there aren’t any deals to be had. Canadians have seen all kinds of unexpected volatility this year, providing long-term investors with plenty of interesting opportunities to put their hard-earned cash to work.
Canadian investors have also witnessed a pullback in the high-growth tech sector in 2021. Valuations of some of the top tech stocks are still very richly valued, but many of those companies are trading more than 20% below all-time highs right now.
If you’ve been planning on increasing your exposure to the tech sector, now would be a wise time.
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The Canadian currency keeps powering higher in recent days. On May 6, 2021, the loonie sparkled the brightest with its 0.95% gain the highest one-day gain since September 2017. A significant factor for the increase was the oil price rally. As one of the world’s major copper producers, the country also benefits from copper prices surging to record peak.
Despite the 207,000 lost jobs in April 2021, the Canadian dollar held near its strongest level in three-and-a half years to extend the win streak to six straight weeks. The Bank of Canada’s announcement that it would begin hiking interest rates and slow down bond purchases likewise gave the loonie more strength.
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If you’re a long-term investor, there is no shortage of growth opportunities in the Canadian stock market right now. In the short term, we could continue to see a volatile market, but over the long term, there are a few trends that I think Canadian investors would be wise to have exposure to.
Tech and renewable energy are two of the sectors I’m most bullish on over the next decade. Both sectors had an extremely strong year in 2020 but have cooled off as of late.
In the short term, it’s anybody’s guess as to how either sector will fare. But long term, it’s hard to imagine the leaders in each respective sector won’t continue to deliver market-beating growth.