Fortis is an electricity and natural gas distribution utility based in St. John’s. It has total assets of about $70 billion and generated revenue of $12 billion in 2023. The company serves about 3.4 million utility customers in five Canadian provinces, nine US states, and three Caribbean countries. It has 9,100 employees.
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In September, the board of directors approved a 4.2% increase in the quarterly dividend to $0.615 ($2.46 a year), effective with the Dec. 1 payment. This marks the 51st consecutive year that the company has increased its payout. Management is targeting annual dividend increases of between 4% and 6% through the end of 2029.- Gordon Pape
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FTS was first recommended here on August 15, 2005