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Topic: Dividend Stocks

FORTIS INC. $38 – Toronto symbol

FORTIS INC. $38 (www.fortisinc.com) has purchased additional shares in Caribbean Utilities Co. Ltd., the main provider of electricity in the Cayman Islands. That increased its stake to 60.4% from 58.9%. This investment cost $23.4 million U.S., which is equal to 16% of the $179 million (Canadian), or $0.65 a share, that Fortis earned in the first quarter of 2015. Caribbean Utilities will use the cash to build a new diesel power plant and upgrade its other operations. Buy.

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