Hello everyone I hope you are all doing great. Today was great for me as one of my company’s announced a dividend increase.
Fortis Inc (Fortis) is a Canada-based electric and gas utility company. The Company’s segments include Regulated Utilities and Non-Regulated Utilities. The Regulated Utilities segment includes Regulated Electric & Gas Utilities-United States, which consists of UNS Energy Corporation (UNS Energy) and Central Hudson Gas & Electric Corporation (Central Hudson); Regulated Gas Utility-Canadian, which consists of FortisBC Energy Inc. (FortisBC Energy); Regulated Electric Utilities-Canadian, which consists of FortisAlberta Inc. (FortisAlberta), FortisBC Electric and Eastern Canadian, and Regulated Electric Utilities-Caribbean, which includes its ownership interest in Caribbean Utilities Company, Ltd. (Caribbean Utilities), Fortis Turks and Caicos, and its investment in Belize Electricity Limited (Belize Electricity). The Non-Regulated Utilities segment consists of Fortis Generation and Aitken Creek Gas Storage LLC, a provider of natural gas transmission and storage services.
(Source Google Finance)
Today the board of directors at Fortis announced that the fourth quarter dividend would be increasing to $0.40 from $0.375 an increase of 6.7%. This will take effect with the December 1, 2016 payment.
I currently own 161 shares of Fortis and this is the third increase I have received. With this announcement my income will increase in 2016 by $4.02. On a yearly basis my income increases by $16.08.
If you own shares in Fortis congrats on the raise 🙂
Thanks for reading.