The Investment Reporter, in its Oct. 30, 2015, issue, says buy Fortis Inc., recently $38.25. The Reporter said buy 28 times from Oct. 15, 1995, to Feb. 6, 2015, at prices ranging from $22.89 to $70.68 (the stock split 4 for 1 on Oct. 12, 2005). Assuming an investment of $1,000 for each of the 28 buys, the $28,000 position would now be worth $73,210. Fortis is focusing on regulated utilities and disposing of other assets. In June, 2015, the electric and gas utility sold its commercial real estate assets for $430-million and unregulated generation assets in New York for $77-million. In July, 2015, Fortis sold its unregulated generation assets in Ontario for $16-million and its hotels for $365-million. The government of Belize has agreed to pay Fortis $35-million for its expropriation of Fortis's 70-per-cent interest in Belize Electricity. The company plans to raise its dividends by 6 per cent a year through 2020. Fortis remains a buy for long-term share price gains plus high and rising dividends.
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