Through Different Lenses - 029
A Few Current Thoughts
Last Wednesday, Fortis Inc announced a dividend increase of 5.8%. This is the 47th consecutive year that fortis has raised their dividend. Maybe more important, they gave guidance that they expect to see 6% dividend growth per year until 2025
*Source: Fortis Inc’s Investor Presentation.
They were also written up in the Globe and Mail, here is a link:
https://www.theglobeandmail.com/investing/markets/stocks/FTS-T/pressreleases/308981/
Obviously my compliance department will want me to tell you that future returns are not always indicative of past results. However, it is nice to look at a long term trend and see consistent results…..47 years worth.
I have said in the past and will continue to say it, simple, boring investments can produce exciting results. Also, patience and a longterm mindset tends to get rewarded.
It can be as simple and routine as turning on and off a light each day….wait isn’t that the business Fortis is in…..
Tune in next week when we discuss Sherwin Williams and the investment strategy of watching paint dry.
The week after that we will really “spice” it up and discuss McCormick.
Incase you were only focused on the terrible puns, like Fortis, both McCormick and Sherwin Williams are very solid, steady, boring companies that have grown their dividends respectively for 35 and 41 consecutive years. (*source: McCormick investor presentation and Sherwin Williams presentation)
Happy Wednesday!
As predictable as 47 years of consecutive dividends, here as always are you best Wednesday reads.
The fifth risk of investing: Complexity (Steadyhand)
Inflation: Forgotten but not gone (Guardian Capital)
Ironies of luck (Morgan Housel)
Inside the airline industry's meltdown (The Guardian)
The $88 Trillion World Economy in One Chart
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