Dividend Power Score
A single, comprehensive score designed to measure the true strength of a company’s dividend.
This score combines three essential pillars of dividend quality:
Consistency – Measures how reliable the dividend has been over time, focusing on payment history, stability, and the absence of cuts or suspensions.
Payability – Assesses the company’s financial ability to sustain its dividend, taking into account cash flow, earnings coverage, balance sheet strength, and overall financial health.
Growth – Evaluates the long-term growth of both the dividend and the company’s share price, highlighting businesses that consistently increase payouts while creating shareholder value.
Higher scores identify companies that have historically delivered dependable income alongside sustained dividend growth and long-term capital appreciation.
Company Overview
Fortis Inc. is a Canadian investor-owned electric and gas utility holding company operating primarily in the regulated energy utilities sector. The company owns and operates a diversified portfolio of electricity transmission and distribution and natural gas distribution assets, with the majority of its earnings derived from rate-regulated utility operations. Its primary revenue drivers are regulated returns on invested capital tied to electricity and gas infrastructure serving residential, commercial, and industrial customers.
Founded in 1885 in St. John’s, Newfoundland and Labrador, Fortis evolved from a regional electric utility into a multinational utility holding company through a long-term acquisition strategy focused on low-risk, regulated assets. The company is publicly traded on the Toronto Stock Exchange and the New York Stock Exchange under the ticker FTS and has positioned itself as one of North America’s largest investor-owned utilities by asset base, emphasizing predictable cash flows and dividend growth.
Business Operations
Fortis operates through three primary regulated business segments: Canadian Regulated Utilities, U.S. Regulated Utilities, and Caribbean Regulated Utilities. These segments encompass electric transmission, electric distribution, and natural gas distribution. The company generates revenue primarily through customer rates approved by regulators, which are designed to allow recovery of operating costs and a reasonable return on invested capital.
Key operating subsidiaries include FortisBC Energy Inc., FortisAlberta Inc., ITC Holdings Corp., UNS Energy Corporation, Central Hudson Gas & Electric Corp., and FortisTCI Ltd. Fortis owns extensive electricity transmission infrastructure in the United States through ITC Holdings and controls vertically integrated electric utilities in Arizona and the Caribbean. Operations are largely domestic-market focused within each jurisdiction, with limited exposure to commodity price volatility due to the regulated nature of the assets.
Strategic Position & Investments
Fortis’s strategic direction centers on expanding and modernizing regulated utility infrastructure, particularly in electricity transmission, grid reliability, and cleaner energy integration. Growth initiatives are primarily executed through organic capital investment programs approved by regulators, rather than through speculative or merchant power investments. The company maintains a multi-year capital plan focused on system modernization, resiliency, and interconnection to support renewable generation.
Historically, Fortis has expanded through acquisitions of established regulated utilities, including ITC Holdings Corp. in the United States and UNS Energy Corporation in Arizona. The company continues to invest in transmission expansion, grid automation, and climate resilience projects. Exposure to emerging technologies is largely indirect, centered on enabling infrastructure for renewable energy, energy storage interconnection, and electrification, rather than ownership of generation technology itself.
Geographic Footprint
Fortis is headquartered in Canada, with corporate offices in St. John’s, Newfoundland and Labrador. Its operations span Canada, the United States, and the Caribbean, giving the company a broad geographic footprint across North America and select island markets.
In Canada, Fortis operates electric and gas utilities in British Columbia, Alberta, and Atlantic Canada. In the United States, it has a significant presence in the Midwest, Mountain West, and Northeast through regulated transmission and distribution utilities, including major operations in Michigan, Arizona, and New York. In the Caribbean, Fortis owns electric utilities in several jurisdictions, including Grand Cayman and Turks and Caicos, providing localized electricity services under long-term regulatory frameworks.
Leadership & Governance
Fortis follows a governance model typical of large regulated utilities, emphasizing long-term capital stewardship, regulatory relationships, and stable dividend growth. The leadership team focuses on disciplined capital allocation, operational reliability, and constructive engagement with regulators and stakeholders across jurisdictions.
Key executives include:
- David Hutchens – President and Chief Executive Officer
- Jocelyn Perry – Executive Vice President and Chief Financial Officer (Data inconclusive based on available public sources regarding appointment timing)
- Roger K. Dunbar – Executive Vice President, Operations
- Mark D. Bell – Executive Vice President, Corporate Development and Sustainability