Fortis Expects Long-Term Dividend Growth Of 4%-6% Annually Through 2028
Portfolio Pulse from Benzinga Newsdesk
Fortis expects to achieve a long-term dividend growth of 4%-6% annually through 2028, supported by a $25 billion five-year capital plan. This plan is anticipated to increase the midyear rate base from $37.0 billion in 2023 to $49.4 billion by 2028, resulting in a 6.3% compound annual growth rate over five years.
February 09, 2024 | 11:07 am
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Fortis expects a 4%-6% annual dividend growth through 2028, supported by a significant capital investment plan.
The announcement of a 4%-6% expected annual dividend growth, backed by a substantial $25 billion capital investment plan, is likely to be viewed positively by investors. This indicates a strong future outlook and financial health, which could lead to increased investor confidence and potentially drive the stock price up in the short term.
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