NextEra Energy Boosts Quarterly Distribution 15% - Update

(RTTNews) - While reporting financial results for the third quarter on Friday, clean energy company NextEra Energy, Inc. (NEE) said its board of directors of NextEra Energy Partners declared a 15 percent higher quarterly distribution of $0.7875 per common unit to the unitholders of NextEra Energy Partners, payable on November 14, 2022 to unitholders of record as of November 4, 2022.

From a base of its fourth quarter 2021 distribution per common unit at an annualized rate of $2.83, NextEra Energy Partners continues to expect 12% to 15% growth per year in limited partner distributions per unit as being a reasonable range of expectations through at least 2025, subject to the usual caveats.

NextEra Energy Partners continues to expect year-end 2022 run-rate adjusted EBITDA and CAFD in the ranges of $1.785 billion to $1.985 billion and $685 million to $775 million, respectively, reflecting calendar year 2023 contributions from the forecasted portfolio at the end of 2022.

NextEra Energy Partners also is introducing Dec. 31, 2023, run-rate expectations for adjusted EBITDA in a range of $2.220 billion to $2.420 billion and CAFD in a range of $770 million to $860 million, reflecting calendar year 2024 expectations for the portfolio at year-end 2023.