Vistra Corp.

Vistra is one of the largest independent power producers in the United States, generating and selling electricity across a diverse fleet of natural gas, nuclear, coal and renewable assets, paired with a large retail electricity business. Its integration of generation and retail, along with a growing role in serving surging power demand, gives it a meaningful position in competitive energy markets. Vistra pays a low-yielding dividend supported by a payout policy the company has maintained and grown over several years. Power generation is capital-intensive and exposed to commodity prices and regulation, so the dividend sits alongside significant buybacks and debt management. The profile is that of a solid but cyclical energy operator where the modest yield is one part of a broader capital-return story.