Topic: How To Invest

Dividend Advisor Hotline – Friday, July 26, 2019

Article Excerpt

CANADIAN UTILITIES LTD., Toronto symbols CU [class A non-voting] $35.13 and CU.X [class B voting] $35.24, distributes electricity and natural gas in Alberta and Australia. It also holds all or part of 21 power plants—17 in Canada, 2 in Australia and 2 in Mexico. ATCO (see below) owns 52.2% of the company. Starting with the March 2019 payment, Canadian Utilities raised its quarterly dividend by 7.5%. Investors now receive $0.4227 a share instead of $0.3933. The new annual rate of $1.69 yields a high 4.8%. The company recently agreed to sell its 80% stake in Alberta PowerLine, a joint venture that has now completed a new 508-km power transmission line between Edmonton and Fort McMurray, Alberta. Quanta Services Inc. owns the other 20%. Canadian Utilities will receive $300 million for its stake when it completes the sale later this year. The buyers will also assume $1.4 billion of debt related to the joint venture. After the sale, Canadian Utilities will continue to operate…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.