Fortis (FTS) to Issue Quarterly Dividend of C$0.67 on December 1st

Fortis (NYSE:FTS) declared a quarterly dividend on Monday, November 2nd. Investors of record on Tuesday, November 17th will be given a dividend of C$0.67 per share by the utilities provider on Tuesday, December 1st. This represents a $2.66 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Tuesday, November 17th. This is a 3.9% increase from Fortis’s previous quarterly dividend of C$0.64.

Fortis has decreased its dividend by an average of 0.1% 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 71.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Fortis to earn $2.73 per share next year, which means the company should continue to be able to cover its $1.82 annual dividend with an expected future payout ratio of 66.7%.

Fortis Price Performance

NYSE:FTS opened at $59.69 on Wednesday. Fortis has a 52 week low of $49.60 and a 52 week high of $60.19. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.47 and a current ratio of 0.56. The firm’s 50-day simple moving average is $54.92 and its 200 day simple moving average is $55.94. The firm has a market cap of $30.79 billion, a price-to-earnings ratio of 24.16 and a beta of 0.42.

Fortis (NYSE:FTS) last posted its quarterly earnings data on Tuesday, November 3rd. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. Fortis had a net margin of 14.17% and a return on equity of 7.16%. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.27 billion. As a group, sell-side analysts predict that Fortis will post 2.55 earnings per share for the current year.

Fortis Company Profile

Fortis Inc is a Canadian utility holding company that owns and operates regulated electric and natural gas utilities. Its businesses are primarily focused on the transmission and distribution of electricity, natural gas distribution, and related energy infrastructure.

Through its portfolio of utility subsidiaries, Fortis serves customers across Canada and the United States, with additional operations in the Caribbean. Its businesses include electric utilities, natural gas utilities, and electric transmission assets, providing essential energy services to residential, commercial, and industrial customers.

Fortis has expanded from its Canadian utility origins through acquisitions and investments in regulated infrastructure.