TerraForm Raises Dividend Five Months After Going Public

TerraForm Power said it was increasing its quarterly dividend by 20% to 27 cents a share, payable March 16, 2015 to shareholders of record on March. 2. On an annual basis, the new dividend represents a yield of 3.7%, based on Friday's closing price of $29.36. Shares of the operator of clean power plants, which were inactive in premarket trade, closed Friday 17% above its $25 initial public offering price. The stock went public on July 18.