The Successful Investor, in its July, 2015, issue, refreshes its buy of Fortis Inc., recently $36. 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 $43,056. The company has completed a $900-million expansion of the Waneta hydroelectric plant in British Columbia. It holds 51 per cent of this addition, with the British Columbia government holding the remaining 49 per cent. This project is part of Fortis's plan to spend $9-billion on its operations between 2015 and 2019. The company will probably borrow the money it needs for these investments. Regulated businesses account for 93 per cent of Fortis's assets, and regulators will likely let it raise power rates to cover these costs and pay down debt. The company has raised its dividend annually for the past 42 years; the current dividend of $1.36 a share is a 3.8-per-cent yield. The stock trades at 17.5 times the $2.06 a share Fortis will probably earn this year. It trades at 16.6 times the 2016 earnings estimate of $2.17 a share. Fortis remains a buy.