Constellation Energy

Constellation Energy is the largest producer of carbon-free electricity in the United States, operating the country's biggest fleet of nuclear power plants alongside other generation. Spun off from Exelon, it sells power to utilities, businesses and government customers, and it has drawn attention as demand from data centres and electrification lifts the value of reliable, clean baseload power. Constellation is a young dividend payer, having initiated its payout only after the spin-off, with just a few years of increases and a low yield. Management has signalled intent to grow the dividend, but the record is short and earnings can be volatile in wholesale power markets. The profile is growth-oriented, with the dividend a modest and still-emerging feature rather than the main draw.