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

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) annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Friday, May 15th.

Fortis has decreased its dividend 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 payout ratio of 72.7% indicating that its dividend is sufficiently covered by earnings. 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 Performance

Shares of FTS stock opened at $56.07 on Friday. Fortis has a 12-month low of $42.95 and a 12-month high of $56.73. The business’s fifty day simple moving average is $52.30 and its 200-day simple moving average is $51.14. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 1.32. The company has a market cap of $28.44 billion, a PE ratio of 23.36, a PEG ratio of 4.26 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.