On Tuesday, November 3, 2026, the Board of Directors of Fortis Inc. (FTS) announced an increase in its quarterly dividend from C$0.64 to C$0.665 per share. The new dividend is payable on December 1, 2026, to shareholders of record as of November 17, 2026.
The 3.91% increase continues Fortis's impressive dividend-growth record, extending its streak of consecutive annual dividend increases to 52 years.
Current Dividend Yield and Income Impact
At the current share price of C$85.03, based on yesterday's closing price, Fortis offers a forward annual dividend of C$2.66 per share, resulting in a dividend yield of approximately 3.13%.
As an owner of 170 shares of Fortis, this dividend increase adds $9.05 to my projected annual net dividend income.
I was expecting an increase of around 5%, so the 3.91% raise was a little below my expectations. Still, an increase is always an increase, and I'm happy to take it.
Long-Term Dividend Growth Track Record
Fortis is a member of the Canadian Dividend All-Star List, with an impressive 52-year streak of consecutive dividend increases.
According to the Canadian Dividend All-Star List, Fortis's dividend growth rates over the 1-, 3-, 5-, and 10-year periods are approximately 4.2%, 4.6%, 5.1%, and 5.9%, respectively.
Annual Growth Picture
This latest announcement marks the ninth consecutive dividend increase I’ve received from Fortis since acquiring my first shares in February 2018. Over this period, the quarterly dividend has grown from C$0.425 to C$0.665 per share, representing a cumulative increase of approximately 56.5%.
At the time of writing, FTS represents approximately 0.95% of my portfolio, while its share of future annual dividend income is about 0.83%.
Following this increase, my yield on cost has risen to 6.05%.
Quick Valuation Take
At C$85.03 per share, Fortis offers a forward dividend yield of approximately 3.13%.
As a regulated utility, Fortis is generally valued for the stability and predictability of its business rather than rapid earnings growth. Its extensive utility operations and long-term investment plans provide a foundation for relatively steady earnings and dividend growth.
The current yield is not exceptionally high, but Fortis's 52-year dividend-growth streak and track record of moderate annual increases make it an interesting long-term income holding. For my portfolio, I value the stability it brings, although the share price remains an important consideration when deciding whether to add more shares.
Dividend Safety and Outlook
Fortis's dividend is supported by the relatively predictable cash flows generated by its regulated utility businesses. Its operations across several jurisdictions provide a diversified earnings base, while ongoing investments in electricity and gas infrastructure support the company's long-term growth.
The main risks to future dividend growth include higher interest rates and financing costs, rising capital expenditure requirements, regulatory decisions, and the company's ability to earn acceptable returns on its infrastructure investments. As a capital-intensive utility, Fortis also needs continued access to financing to fund its investment plans.
Overall, I consider Fortis a relatively dependable dividend-growth holding. Its 52-year streak demonstrates a remarkable commitment to increasing shareholder distributions, while its regulated business model provides a foundation for continued, moderate dividend growth.
Final Thoughts
Fortis delivered another dividend increase, although the 3.91% raise was slightly below my expectation of around 5%.
The increase adds $9.05 to my projected annual net dividend income and raises my yield on cost to 6.05%. Since acquiring my first shares in February 2018, I have received nine consecutive dividend increases, and the quarterly dividend has grown by 56.5%.
With 52 consecutive years of dividend increases, Fortis remains a valuable source of relatively predictable and growing income in my portfolio. I’m happy to continue holding the company and collecting its annual dividend increases.
Summary of 2026 Dividend Increases / Cuts
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You can follow the development of my dividends here.
Full Disclosure: Long FTS
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