2 Dividend Growth Stocks With Yields up to 5.5% That Are Screaming Buys in July

Group 1: Brookfield Renewable - Brookfield Renewable offers two investment options: a partnership with a yield of 5.6% and a corporate share class with a yield of approximately 5% [3] - The company is overseen by Brookfield Asset Management, which has a strong history in global infrastructure investments [4] - Brookfield Renewable's energy production is diversified: 47% hydroelectric, 21% onshore wind, 16% solar, and 9% distributed power [4] - The company targets a funds-from-operations growth of about 10% annually, with distribution growth between 5% and 9% [5] - Over the past 20 years, Brookfield Renewable has averaged a distribution growth of approximately 6% per year [5] - Both investment options are expected to be rewarding over time as dividends continue to grow [6] Group 2: WEC Energy - WEC Energy serves approximately 4.7 million customers across Wisconsin, Illinois, Michigan, and Minnesota, with a current dividend yield of around 4.4% [7] - The company has increased its dividend annually for 21 years, with an average increase of 7% over the past decade [7] - WEC Energy is initiating its largest five-year capital investment plan, estimated at $23.7 billion, focusing on transitioning from coal to cleaner energy sources [7] - The company anticipates electricity demand growth of 4.5% to 5% per year, driven in part by investments from major companies like Microsoft [8] - WEC Energy's earnings growth is expected to be between 6.5% and 7%, supporting continued high dividend growth [9] - The company ranks in the top decile for dividend growth within the utility sector [9] Group 3: Investment Opportunities - The S&P 500 index is near all-time highs, with yields below 1.3%, making higher-yielding stocks like Brookfield Renewable and WEC Energy attractive for income investors [2] - Both companies represent viable options for investors seeking high-yield dividend growth stocks in a challenging market [9]