NRG Energy (NRG) will increase its quarterly dividend by 7.7 percent to 35 cents per share in 2022. This follows a dividend hike of  8.3 percent to 32.5 cents per share in 2021. In 2020 the energy company announced a stunning 900.0 percent increase to $0.30 per share, coming after a 79.3 percent dividend cut to just 3 cents quarterly back in 2016.

The dividend is payable on February 15, 2022 to stockholders of record as of February 1, 2022. This dividend increase is in-line with the company’s previously announced annual dividend growth rate target of 7-9% per share. 

If we include this new dividend hike by NRG Energy just announced the company will pay an estimated $343 million in dividends to shareholders annually. The average dividend growth rate in the last five years is no less than 63.5 percent annually, thanks to the huge hike announced in 2020.

NRG Energy is an energy company. The company’s core businesses include retail electricity and natural gas for residential, industrial and commercial consumers, including personal power solutions and Business Solutions, which includes C&I customers and other distributed and reliability products, and wholesale conventional generation primarily to support the retail business. NRG was incorporated as a Delaware corporation on May 29, 1992.