Fortis (NYSE:FTS) to Issue Quarterly Dividend of C$0.64

Fortis (NYSE:FTS) announced a quarterly dividend on Thursday, December 4th. Shareholders of record on Tuesday, February 17th will be paid a dividend of 0.64 per share by the utilities provider on Sunday, March 1st. This represents a c) dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Tuesday, February 17th.

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

Fortis Trading Down 0.3%

Shares of FTS opened at $50.95 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.54 and a current ratio of 0.66. Fortis has a 52-week low of $40.32 and a 52-week high of $52.83. The firm has a market cap of $25.75 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 4.83 and a beta of 0.50. The business’s fifty day moving average is $51.20 and its 200-day moving average is $49.55.

Fortis (NYSE:FTS) last released its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.02). Fortis had a net margin of 14.18% and a return on equity of 7.05%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.22 billion. Equities analysts anticipate that Fortis will post 2.35 EPS for the current fiscal year.

Fortis Company Profile

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.