Fortis (TSX:FTS)(NYSE:FTS) is an elite option for Canadians on the hunt for TSX stocks that pay a dividend. This St. John’s-based company is one of the top utilities in the country. Fortis stock has climbed 2.8% in 2020 as of close on October 29.
The company is set to release its third-quarter 2020 results in early November. In Q2 2020, Fortis delivered adjusted net earnings of $0.56 per share compared to $0.54 in the prior year. Best of all, Fortis’s five-year capital plan of $18.8 billion remained unchanged in the face of the COVID-19 pandemic. This capital plan aims to significantly expand the company’s rate base and support annual dividend growth of 6% through 2024.
Shares of Fortis last had a favourable P/E ratio of 20 and a P/B value of 1.4. It last paid out a quarterly dividend of $0.4775 per share, representing a 3.7% yield.
No comments:
Post a Comment