Operating in 25 countries, Brookfield Renewable Corporation (BEPC 1.05%) 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.
BEPC FFO Per Share (Annual) data by YCharts.
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.
