The Globe and Mail reports in its Wednesday edition that although most dividend stocks were hit by the interest rate rise, some of them have increased cash flow and made capital gains. Globe columnist Gordon Pape writes that one of these is AltaGas. Guest columnist Gordon Pape writes that AltaGas, a pipeline and utility company, supplies natural gas for 1.6 million homes and businesses. It operates in five U.S. states, primarily through its WGL subsidiary. They include Virginia, Maryland and Washington, D.C., from which the Calgary company derives around 80 per cent of its earnings. Its other division operates pipelines that supply natural gas and liquefied petroleum gas to its terminals on the West Coast for export to Asia. It also maintains a small portfolio of power assets in Alberta as well as nine U.S. states. The company released third-quarter results on Nov. 3. Normalized earnings per share came in at 10 cents, the same as last year, but the company expects 2023 earnings per share to come in at the upper end of $1.85 and $2.05 ($1.89 in 2022). The stock pays a quarterly dividend of 28 cents ($1.12 per year), to yield 4.2 per cent at the recent price of $26.39. The stock is up 14 per cent this year from $23.38.