Updating Fortis Inc., Great-West Lifeco Inc. and Molson Coors Canada Inc.

Article Excerpt

FORTIS INC. $46 (www.fortisinc.com) continues to benefit from its October 2016 acquisition of ITC Holdings, which owns 25,100 kilometres of high-voltage power lines in the U.S. Midwest. Fortis paid $7.0 billion U.S. in cash and shares; it later sold 19.9% of ITC to Singapore’s sovereign wealth fund for $1.2 billion U.S. In the second quarter of 2017, Fortis earned $253 million, or $0.61 a share. That included $0.04 a share from ITC. A year earlier, the company earned a total of $129 million, or $0.45. The additional earnings from ITC will help Fortis with its plan to increase its dividend by 6% each year through 2021. Buy. GREAT-WEST LIFECO INC. $36 (www.greatwestlifeco.com) has completed its purchase of Financial Horizon Group. That’s a private firm selling insurance and other products through 6,600 financial advisors across Canada. Great-West plans to keep the firm as a separate business instead of merging it with the company’s existing operations. Hold. MOLSON COORS CANADA INC. $115 (www.molsoncoors.com) saw…
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