Updating our Income stocks: Emera, Fortis, & Bank of Montreal

Article Excerpt

EMERA INC. $48 (www.emera.com) is a buy. The company owns 100% of Nova Scotia Power, that province’s main electricity supplier. Its other interests include several power plants and natural gas pipelines in the U.S. and the Caribbean. With the November 2023 payment, Emera will raise your quarterly dividend by 4.0%. Investors will then receive $0.7175 a share instead of $0.69. The new annual rate of $2.87 yields a high 6.0%. As well, the company extended its target for annual dividend increases to between 4% and 5% through 2026. Emera is a buy. FORTIS INC. $56 (www.fortisinc.com) is a buy. The company is the main supplier of electrical power in Newfoundland and PEI, and owns electrical and gas utilities across North America. Starting with the December 2023 quarterly dividend payment, investors will receive $0.59 a share up 4.4% from $0.565. The new annual rate of $2.36 yields a solid 4.2%. Fortis also plans to increase the annual dividend rate between 4% and 6% each year through 2028. Fortis is a..