Updating our Income stocks: Canadian Utilities, ATCO & Andrew Peller

Article Excerpt

CANADIAN UTILITIES LTD. $36 (www.canadianutilities.com) is a buy. The company distributes electricity and natural gas in Alberta and Australia. It also owns or invests in 7 non-regulated power plants—1 in Canada, 2 in Mexico, 3 in Australia and 1 in Chile. ATCO (see below) owns 52.9% of the company. Canadian Utilities is now raising your quarterly dividend by 1.0%; the new annual rate of $1.794 a share yields a high 5.0%. The company has now increased its dividend rate for 51 consecutive years. Canadian Utilities is a buy. ATCO LTD. $42 (www.atco.com) is a buy. The company gets most of its earnings from its stake in Canadian Utilities (see above). It also owns 1) ATCO Structures & Logistics, which makes temporary buildings for construction, mining and energy-exploration firms and 2) 40% of Neltume Ports, which operates 16 ports in four South American countries. ATCO investors will see their quarterly dividend rise 3.0% in March 2023. The new annual rate of $1.902 yields a high 4.5%. The company has…