Let this utility Dividend Aristocrat provide stability to your portfolio: Fortis Inc. (XTSE:FTS)
Fortis Inc. (TSX: FTS) is a leading utility company that operates in the electric and gas utility sectors. Fortis has a diversified portfolio of regulated utility businesses in Canada, the United States, and the Caribbean. It traces its origins back to the formation of St. John’s Electric Light Company in 1885 in what is now Newfoundland and Labrador. Over the years, the company went through several transformations and name changes, eventually becoming Newfoundland Light & Power Co. Limited.
In 1987, Fortis Inc. was established as a holding company with the purpose of expanding and diversifying its operations. Newfoundland Light & Power Co. Limited became the first wholly-owned subsidiary of Fortis Inc. This marked the beginning of Fortis’ growth as a multi-utility company.