The Motley FoolThe Motley Fool continues to promote the company.
Northland Power (TSX:NPI) happens to be operating in the right place at the right time. With utility and renewable power operations across North America and Europe, it is beneficiary of the global energy crisis. Northland is a leader in offshore wind projects, and it has plenty of long-term growth ahead.
Energy prices in Europe have skyrocketed and that means Northland has been earning a huge windfall this year. It has a large backlog of European, American, and Asian wind power developments, so it should benefit from strong energy demand for years and potentially decades ahead.
Today, it pays a $0.10 dividend every month. That equates to a 2.83% dividend yield today. Chances are very good that this stock will increase its dividend, as new cash-yielding projects come online.