The Successful Investor, in its June, 2015, issue, refreshes its buy of Fortis Inc., recently $38. The Investor said buy 19 times from January, 1999, to May, 2015, at prices ranging from $23 to $74 (the stock split 4 for 1 on Oct. 12, 2005). Assuming an investment of $1,000 for each of the 19 buys, the $19,000 position would now be worth $45,448. Fortis has acquired additional shares in Caribbean Utilities Co. Ltd., increasing its ownership to 60.4 per cent from 58.9 per cent. Caribbean Utilities is the main electricity provider in the Cayman Islands. This investment cost $23.4-million (U.S.), which is equal to 16 per cent of the $179-million (Canadian) Fortis earned in the first quarter of 2015. Caribbean Utilities will use the proceeds to build a new diesel power plant and upgrade its other operations. Fortis continues to be a buy.
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