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Topic: Dividend Stocks

FORTIS INC. $38 – Toronto symbol FTS

FORTIS INC. $38 (www.fortisinc.com) earned $14 million in the three months ended September 30, 2014, down 70.8% from $48 million a year earlier. Per-share earnings fell at a faster rate of 73.9%, to $0.06 from $0.23, on more shares outstanding. The drop is mainly due to unusual costs related to the company’s recent $4.5 billion U.S. purchase of UNS Energy, which operates power plants and distributes electricity and natural gas in Arizona. Without these items, earnings per share rose 43.5% to $0.33. The new operations raised revenue by 30.8% in the latest quarter, to $1.2 billion from $915 million. Buy.

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