02:49:06 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Fortis Inc
Symbol FTS
Shares Issued 399,833,460
Close 2016-11-15 C$ 40.64
Market Cap C$ 16,249,231,814
Recent Sedar Documents

Globe says pullback was due at Fortis, others

2016-11-16 06:52 ET - In the News

Also In the News (C-BCE) BCE Inc (2)
Also In the News (C-ENB) Enbridge Inc

The Globe and Mail reports in its Wednesday edition that following Donald Trump's election victory, shares of many classic dividend payers -- including utilities, pipelines and telecoms -- got clobbered in a sell-off that some say was long overdue. The Globe's John Heinzl writes that Fortis, Enbridge and BCE are among the hardest-hit stocks. For dividend investors who have gotten used to watching their stocks go only one way -- up -- the reversal has served as a wake-up call that even the strongest, most reliable businesses are vulnerable to the changing political and economic winds. The main reason cited for the sell-off is that president-elect Donald Trump's vow to boost infrastructure spending is stoking worries about inflation, which in turn is driving up government bond yields. The yield on Canada's 10-year government bond has surged to more than 1.5 per cent from about 1.2 per cent before the election. Every asset class hits a rough patch occasionally, and dividend stocks are no different. They have posted such strong gains in recent years that they were ripe for a pullback. Analysts see nothing alarming in the recent sell-off and recommend dividend investors stay the course.

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