Operating in 25 countries, Brookfield Renewable Corporation (BEPC 0.55%) has emerged as a dominant force in clean energy. From solar to wind to hydropower, the company maintains a sizable portfolio with about $126 billion in assets under management.
While Brookfield Renewable isn't exactly a household name, many income investors are likely familiar with the company's history of rewarding shareholders. This, coupled with the stock's 4.7% forward-yielding dividend, suggests it's an alluring option for charging up investors' passive income streams -- especially if they're looking to generate $5,000 from a single dividend stock.
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Committed to growing green energy and boosting distributions
A high-yield dividend like Brookfield Renewable's is alluring, but some companies with similarly appealing yields are inconsistent about sustaining or boosting their payouts.
NYSE: BEPC
Key Data Points
That's not the case with the clean energy powerhouse, though. From 2001 through 2024, the company boosted its distribution at a 6% compound annual growth rate. There's no guarantee, of course, that the company will extend the trend. But management has repeatedly stated a goal of delivering 5% to 9% dividend raises in the coming years, and the company's strong funds from operations support the dividend well.
Brookfield Renewable Corporation has declared dividends of $0.373 per share in each of the first two quarters of 2025. Should it continue this for the rest of the year, it would add up to $1.492 per share. To generate $5,000 in annual income from Brookfield Renewable stock, therefore, investors would need to own 3,352 shares.
Is now the time to buy Brookfield Renewable stock?
After climbing about 16% year to date (as of June 12), shares of Brookfield Renewable are now valued at 10.4 times operating cash flow, a premium to their five-year average of 5.7. This should hardly dissuade investors from buying the stock, though. Brookfield Renewable generates consistently strong funds from operations, and it's a smart way to power your passive income stream.
