Friday, January 15, 2010

Fortis Increases Dividend

This week, I got my first raise in 2010 from one my companies, as Fortis has announced it was raising its quarterly dividend from $0.26 to $0.28 -- a 7.7% increase.

I own my stake in Fortis in my DRiP portfolio, where the increase will have an impact of $4 to the amount of dividend income I will receive in 2010. Of course, I won't actually touch that money at all since it will all be reinvested in additional shares of Fortis. This will keep compounding for years, until I need the money.

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