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Canadian dividend stocks allow investors to build a passive-income stream as well as generate wealth via capital gains over the long term. A dividend-paying company should be able to generate stable cash flows across business cycles that will help them maintain and increase payouts over time. We’ll look at three such Canadian dividend-paying stocks that have yields over 3%.
Brookfield Renewable Power
One of the largest renewable power companies in the world is
Brookfield Renewable Power (TSX:BEP.UN)(NYSE:BEP). Its renewable capacity stands at 10 gigawatts (GW) with an annualized long-term average generation of 56,300 GW hours which is enough to power around 5.3 million homes in the U.S. each year.
Author Bio
Travis Hoium has been writing for fool.com since July 2010 and covers the solar industry, renewable energy, and gaming stocks among other things. Follow @TravisHoium
Energy stocks are in a state of flux early in 2021. Traditional oil and gas companies are looking at a potential future of declining demand as electric vehicle (EV) sales increase. But on the renewable energy side, wind and solar stocks that are taking market share are trading at nosebleed levels.
As investors balance this risk/reward dynamic, one company stands out as having macro tailwinds while offering a reasonable valuation for investors:
Brookfield Renewable