Canadians: Stash This Green Energy Dividend Stock for the Long Haul
The developed world drew out lofty goals to transition to renewable energy during the 2010s. That push has started to pay off in a big way for the green energy sector. Indeed, renewable energy is the fastest growing energy source in the United States. According to a recent report from FactsFactors, the global renewable energy market in 2019 was worth approximately $1.08 trillion. It expects the market to grow at a CAGR of 8.3% to reach $1.91 trillion by 2026. TransAlta Renewables (TSX:RNW) is one of the best dividend stocks to target in this space. The Calgary-based company develops, owns, and operates renewable power generation facilities. Its shares have dropped 7.8% in 2021 as of close on June 29. However, the stock is still up 42% from the prior year. In Q1 2021, the company reported comparable EBITDA of $123 million up 4% from the first quarter of 2020. Meanwhile, adjusted funds from operations (AFFO) were mostly static at $93 million. It also announced the closing of its acquisition of the 303 MW asset portfolio.
Canadians: Stash This Green Energy Dividend Stock for the Long Haul
The developed world drew out lofty goals to transition to renewable energy during the 2010s. That push has started to pay off in a big way for the green energy sector. Indeed, renewable energy is the fastest growing energy source in the United States. According to a recent report from FactsFactors, the global renewable energy market in 2019 was worth approximately $1.08 trillion. It expects the market to grow at a CAGR of 8.3% to reach $1.91 trillion by 2026. TransAlta Renewables (TSX:RNW) is one of the best dividend stocks to target in this space. The Calgary-based company develops, owns, and operates renewable power generation facilities. Its shares have dropped 7.8% in 2021 as of close on June 29. However, the stock is still up 42% from the prior year. In Q1 2021, the company reported comparable EBITDA of $123 million up 4% from the first quarter of 2020. Meanwhile, adjusted funds from operations (AFFO) were mostly static at $93 million. It also announced the closing of its acquisition of the 303 MW asset portfolio.