Motley Fool recommendation Andrew Button: TransAlta Renewables
TransAlta Renewables (TSX:RNW) is my top income stock for June 2020. It’s a renewable energy stock that pays a dividend of $0.078 per month, or $0.936 per year. As of this writing, that gave it an annualized yield of 6.3%. Not only is that an above-average yield, but it’s paid monthly, so you get high income frequency—perfect for retirees who need steady, dependable income.
Since 2013, RNW has not cut its dividend once. In fact, it has raised it several times. This isn’t the type of stock you can count on for a dividend increase every single year, but they happen often enough, and the yield today is already sweet.