Black Hills Corporation (BKH) has recently made headlines with a significant partnership that underscores its strategic growth and commitment to innovation in the utility sector. On July 11, Black Hills announced a collaboration with tech giant Meta Platforms (META) to power Meta's newest data center in Cheyenne, Wyoming. This collaboration is a significant step for Black Hills, especially considering the data center industry is projected to grow by 6.56% annually through 2028, reaching a market volume of $438.70 billion - with Meta standing out as one of the biggest spenders of the artificial intelligence (AI) boom.
Along with its newly established foothold in the AI data center industry, Black Hills' commitment to shareholder returns is evident in its impressive track record of dividend growth. The company recently announced its 54th consecutive annual dividend increase, solidifying its position as a Dividend King. With a current dividend yield of 4.39% and a historically cheap forward price-to-earnings ratio of just 15.09, BKH presents a compelling investment opportunity for income-seeking investors looking for a reliable and growing stream of dividends.
