This Magnificent Dividend Stock Continues to Generate High-Powered Growth

Core Viewpoint - NextEra Energy is experiencing rapid growth compared to its peers due to its focus on clean energy investments, which has led to a robust annual dividend growth of around 10% over the past 20 years [1]. Financial Performance - In the third quarter, NextEra Energy reported adjusted earnings per share of $1.03, reflecting a 10% year-over-year increase, with total adjusted earnings amounting to $2.1 billion [2]. - Florida Power & Light (FPL) generated net income of $1.3 billion, or $0.63 per share, marking a nearly 9% increase driven by new investments [2]. - The energy resources segment produced adjusted earnings of $979 million, or $0.47 per share, representing a more than 9% year-over-year increase [3]. Investment and Growth Strategy - The company invested $2 billion in capital during the quarter and plans to spend between $8 billion and $8.8 billion on expansion and projects this year [2]. - NextEra Energy has added 3 GW of projects to its backlog, totaling over 24 GW, and signed agreements for potential development of up to 10.5 GW of additional renewable and storage projects through 2030 [4]. Future Outlook - The company expects adjusted earnings per share to range from $3.23 to $3.43 this year, indicating a growth of 2% to 8% from the previous year, with an anticipated annual growth rate of 6% to 8% through 2027 [4]. - NextEra Energy's dividend growth is projected to continue at around 10% annually through at least 2026, supported by a lower dividend payout ratio of 59% compared to the peer average of 65% [5].