Topic: How To Invest

Dividend Advisor Hotline – Friday, September 13, 2019

Article Excerpt

FORTIS INC., $55.44, Toronto symbol FTS, is the main supplier of electrical power in Newfoundland and PEI. It also owns electrical utilities across Canada, the U.S. and the Caribbean. In addition, the company distributes natural gas in British Columbia, Arizona and New York State. Starting with the December 2019 payment, the company will increase its quarterly dividend by 6.1%, to $0.4775 a share from $0.45. The new annual rate of $1.91 yields 3.4%. Fortis now plans to invest a total of $18.3 billion between 2020 and 2024 in its operations. That’s $1 billion higher than its earlier estimate. To put those figures in context, the company’s market cap (the total value of all outstanding shares) is $23.6 billion. Most of that spending will go toward upgrading its existing businesses instead of new projects. Regulated utilities now account for 99% of its assets, which makes it easier for Fortis to pass along those costs to its customers. With this latest increase, the company has now…

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