Yesterday, September 19th the Board of Directors of Fortis Inc. (TSE: FTS) announced a quarterly dividend increase of from C$0.565 to C$0.59 per share that’s payable December 1, 2023 to holders of record November 17, 2023. This represents a 4.42% increase over the last quarterly dividend. That announcement marks 50 consecutive years of dividend increases.
"Our sustainable regulated growth strategy is focused on delivering cleaner energy that remains affordable and reliable for our customers while supporting annual dividend growth of 4-6% through 2028,” said Mr. Hutchens.
With current price C$54.98 (yesterday's close), this raise brings their dividend yield to 4.29%.