1 High-Yield Stock to Buy This June

1 High-Yield Stock to Buy This June

Posted On June 1, 2020 12:32 pm

This year has been an awful one for dividend investors due to the economic fallout from the COVID-19 pandemic. More than 175 public companies have cut their payouts by at least 50%, with several suspending them entirely. Those reductions have decimated the income streams of many investors. 

However, while many companies are reducing their payouts during these tough times, others are immune to the current challenging environment. One of these is clean energy producer Clearway Energy (NYSE:CWEN)(NYSE:CWEN.A), which has already provided its investors one raise earlier this year and could give them an even bigger one later this summer. Because of that, it tops my list of stocks for yield-seekers to buy this month.

Immune to COVID-19

While electricity usage has fallen this year as a result of the COVID-19 outbreak, this issue hasn’t impacted Clearway. That’s because its electric utility customers are contractually obligated to purchase the power produced by its natural gas and renewable energy facilities. That enabled it to generate strong results during the first quarter. It also has it well on track to deliver on its full-year forecast.

Overall… Continue reading at The Motley Fool

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