Hey fellow investors thought I would do a bonus post this week. On Monday October 16th, 2017 Fortis announced a 6.25% raise to it’s dividend. This raise marks the 44th consecutive annual dividend raise from Fortis. This is the first raise for my portfolio in a couple of months when Royal Bank of Canada announced their raise on August 23rd.
Fortis Inc. is a Canada-based electric and gas utility holding company. The Company’s segments include Regulated Utilities and Non-Regulated Utilities. Fortis is a leader in the North American utility industry with assets of approximately $48 billion and 2016 revenue of $6.8 billion. Fortis serves utility customers in five Canadian provinces, nine U.S. states and three Caribbean countries.
(Source for the graph was Fortis website)
Monday’s announcement increased the dividend to $0.425 per quarter from $0.40. This marks the 4th increase I have received from Fortis.
I currently own 161 shares so the increase boosts my annual income by $16.12.
Congrats to all the other shareholders who own this great company.
Thanks for reading