Sometimes the best way to grow your wealth isn’t by chasing fast gains or trendy stocks. It’s by locking in dependable passive income from businesses that are built to last. And one of the smartest places to look on the TSX right now might be Brookfield Renewable Partners LP (TSX:BEP.UN). It offers stability, strong long-term prospects, and a solid dividend, all rolled into one green energy package.
About Brookfield
Brookfield Renewable isn’t a household name for most Canadians, but it probably should be. It’s one of the world’s largest publicly traded renewable power platforms. It owns and operates hydroelectric, wind, solar, and energy storage facilities across North and South America, Europe, and Asia. It’s massive, stable, and deeply involved in one of the fastest-growing sectors on the planet: clean energy.
Now here’s the fun part. As of writing, the dividend stock yielded about 6.1%. That means for every $100 invested, you can expect around $6.07 annually in passive income. If you invested $20,000 today, you’d be looking at approximately $1,183 in yearly cash flow! That’s about $98.61 each and every month.
| COMPANY | RECENT PRICE | NUMBER OF SHARES | DIVIDEND | TOTAL PAYOUT | FREQUENCY | INVESTMENT TOTAL |
|---|---|---|---|---|---|---|
| BEP.UN | $36.16 | 553 | $2.14 | $1,183.42 | Quarterly | $19,999.48 |
This kind of reliable income is a big deal. And it gets better when you think about what reinvesting those dividends could do over time. By using that monthly income to buy more shares, you’re setting up a compounding machine. The more shares you own, the more dividends you earn.
Into earnings
Earnings only help the dividend grow further. In its most recent earnings report, released for the first quarter of 2025, Brookfield Renewable delivered funds from operations (FFO) of US$0.48 per unit, up 7% year-over-year. That’s the metric investors focus on with utilities and infrastructure stocks, since it reflects the actual cash generated. This growth was driven by new capacity coming online, solid performance from its hydro and wind assets, and smart capital recycling.
The dividend stock also continues to make moves. In Q1, it committed or deployed US$4.6 billion toward growth opportunities, including acquisitions like National Grid Renewables and the full privatization of French renewable company Neoen. These deals are expected to strengthen its long-term earnings power without taking on risky levels of debt. Brookfield also sold US$900 million in assets, taking advantage of demand in the market and freeing up capital for better use elsewhere.
And this is a business built for resilience. Brookfield Renewable locks in long-term power purchase agreements with governments and major corporations. Around 90% of its revenue is under contract, with the average term sitting at 14 years. Plus, roughly 70% of those contracts are tied to inflation, which helps protect its real returns as costs rise.
Bottom line
The biggest knock against Brookfield Renewable recently has been its share price. The dividend stock is down from its pandemic-era highs, which may be why the yield looks so juicy right now. But for long-term investors, that could be a blessing. Buying in when shares are cheap means you lock in a better yield and greater upside if the price recovers. With the global push for decarbonization not slowing down, demand for renewable power should keep rising, supporting Brookfield’s future growth.
In the end, Brookfield Renewable offers something many stocks don’t: dependability. It provides cash flow you can count on and a strategy built for the long haul. If you’ve got $20,000 to put to work and you want income that lands in your account while the business works in the background, this one deserves a close look.
