Fortis (NYSE:FTS) Announces C$0.64 Quarterly Dividend

Fortis (NYSE:FTS) declared a quarterly dividend on Wednesday, February 11th. Shareholders of record on Friday, May 15th will be given a dividend of 0.64 per share by the utilities provider on Monday, June 1st. This represents a c) dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Friday, May 15th.

Fortis has decreased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 5 years. Fortis has a dividend payout ratio of 72.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Fortis to earn $2.47 per share next year, which means the company should continue to be able to cover its $1.86 annual dividend with an expected future payout ratio of 75.3%.

Fortis Stock Up 1.7%

Fortis stock opened at $55.45 on Thursday. The firm has a 50 day moving average price of $52.20 and a 200-day moving average price of $51.11. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 1.32. Fortis has a twelve month low of $42.95 and a twelve month high of $55.85. The company has a market capitalization of $28.13 billion, a P/E ratio of 23.10, a P/E/G ratio of 4.27 and a beta of 0.50.

About Fortis

Fortis Inc is a Canadian diversified electric and gas utility holding company headquartered in St. John’s, Newfoundland and Labrador. Through a portfolio of regulated utility subsidiaries, the company develops, owns and operates electricity and natural gas transmission, distribution and generation assets. Fortis serves customers across multiple jurisdictions in Canada, the United States and the Caribbean, focusing on the delivery of safe, reliable energy to residential, commercial and industrial users.

The company’s core activities include operation and maintenance of transmission and distribution networks, ownership of generation facilities, and investment in grid modernization and system resilience.