Fortis (FTS) To Go Ex-Dividend on May 15th

Fortis (NYSE:FTS) declared a quarterly dividend on Wednesday, February 11th. Investors 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 4.5%. The ex-dividend date of this dividend is Friday, May 15th.

Fortis has decreased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 5 years. Fortis has a payout ratio of 73.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Fortis to earn $2.82 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 66.7%.

Fortis Price Performance

Fortis stock opened at $56.34 on Wednesday. Fortis has a 52 week low of $45.87 and a 52 week high of $58.78. The business has a 50-day simple moving average of $56.73 and a 200 day simple moving average of $54.02. The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 1.25. The stock has a market cap of $28.68 billion, a price-to-earnings ratio of 22.90 and a beta of 0.45.

Fortis (NYSE:FTS) last posted its earnings results on Wednesday, May 6th. The utilities provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.70 by $0.02. Fortis had a return on equity of 7.25% and a net margin of 14.21%.The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the previous year, the business earned $1.00 earnings per share. On average, research analysts forecast that Fortis will post 2.65 earnings per share for the current fiscal year.

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.