The Globe and Mail reports in its Wednesday, Oct. 7, edition that on Sept. 29 Fortis ($37.43) raised its dividend by 10.3 per cent to $1.50 a share annually from $1.36. The Globe's John Heinzl writes in the Yield Hog column that the stock now yields 4 per cent. Mr. Heinzl recommended Fortis on Jan. 19 and April 8 when it was worth $39.20 and $39.23. When the Globe writer first bought Fortis the annual dividend was $1.20 a share. Fortis has since elevated its dividend four times. The new dividend represents an increase of 25 per cent over the original amount. Mr. Heinzl is so confident Fortis will continue to boost it payout that he plans to buy more shares. He expects Fortis to deliver dividend hikes in excess of the rate of inflation. Mr. Heinzl is reinvesting all of his dividends with the intention of spending the cash from Fortis sometime in retirement. He warns that a spike in interest rates could hurt shares of Fortis and other utilities. However, while stock prices are notoriously unpredictable in the short term, Mr. Heinzl is confident that in the long run -- whether it is five, 10 or 20 years from now -- Fortis's dividend will be substantially higher than it is today.