Topic: How To Invest

The Successful Investor Hotline – Friday, April 16, 2021

Article Excerpt

FORTIS INC., $55.04, Toronto symbol FTS, is your #1 Income buy for 2021. The company is the main supplier of electrical power in Newfoundland and PEI. Fortis 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. Fortis has raised its dividend each year for the past 47 years. That includes a 5.8% increase starting with the December 2020 quarterly payment. Investors now receive $0.505 a share instead of $0.4775. The new annual rate of $2.02 yields 3.7%. The company is now teaming up with the Canada Infrastructure Bank to build a new, 117-kilometre underwater transmission line for Lake Erie. That line will connect the electrical power systems of Ontario with those of the northeastern U.S. A two-way line makes it easier for electricity producers in both regions to trade excess power. Canada Infrastructure Bank will invest up to $655 million, or 38.5% of the project’s $1.7 billion…

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