NextEra Energy (NEE) Raises Quarterly Dividend 12% to $1.40; 2% Yield; Sees Dividend Growth of 10% Per Year

NextEra Energy (NYSE: NEE) declared a quarterly dividend of $1.40 per share, or $5.6 annualized. This is a 12% increase from the prior dividend of $1.25. The dividend will be payable on March 16, 2020, to stockholders of record on February 28, 2020, with an ex-dividend date of February 27, 2020. The annual yield on the dividend is 2 percent.

The board also approved an updated dividend policy for beyond 2020, which is expected to translate to a growth rate in dividends per share of roughly 10% per year through at least 2022, off a 2020 base, which is expected to be $5.60 per share.

"The board's approval to continue to grow our dividends per share in excess of our expected adjusted earnings per share growth rate is a result of our success in executing on our industry-leading business strategy," said Jim Robo, chairman and chief executive officer of NextEra Energy. "With a 60% payout ratio at the end of 2019, well below the peer average of approximately 65%, and the continued strength of the earnings and operating cash flow growth at NextEra Energy, we remain well-positioned to support the dividend policy going forward. I believe we continue to offer a best-in-class total return potential, with above-average dividend growth and clear visibility to deliver financial results at or near the top end of our adjusted earnings per share expectations ranges in 2020, 2021 and 2022, while at the same time maintaining our strong credit ratings."

For a dividend history and other dividend-related data on NextEra Energy (NEE) click here.

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