Fortis (FTS) to Issue Quarterly Dividend of C$0.64 on December 1st

Fortis (NYSE:FTS) declared a quarterly dividend on Tuesday, November 4th. Shareholders of record on Monday, November 17th will be given a dividend of 0.64 per share by the utilities provider on Monday, December 1st. This represents a c) dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Monday, November 17th. This is a 43.9% increase from Fortis’s previous quarterly dividend of $0.44.

Fortis has decreased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Fortis has a payout ratio of 71.1% 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 $1.82 annual dividend with an expected future payout ratio of 73.7%.

Fortis Trading Down 0.1%

Shares of Fortis stock opened at $52.27 on Friday. Fortis has a 12-month low of $40.32 and a 12-month high of $52.83. The stock has a market cap of $26.42 billion, a P/E ratio of 21.51, a P/E/G ratio of 3.94 and a beta of 0.49. The company has a quick ratio of 0.47, a current ratio of 0.58 and a debt-to-equity ratio of 1.30. The business’s 50 day moving average is $50.47 and its 200-day moving average is $49.19.

Fortis (NYSE:FTS) last posted its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.02). Fortis had a return on equity of 7.24% and a net margin of 14.48%.The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.22 billion. Equities research analysts predict that Fortis will post 2.35 earnings per share for the current fiscal year.

About Fortis

Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. It generates, transmits, and distributes electricity to approximately 447,000 retail customers in southeastern Arizona; and 103,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,408 megawatts (MW), including 68 MW of solar capacity and 250 MV of wind capacity.