Utility Company Fortis Completes Acquisition of ITC, Sees Strong Dividend Growth Ahead

Utility company Fortis (FTS) - Get Report  has become one of the top 15 utility firms in North America thanks to its acquisition of electric transmission company ITC, and its shareholders will benefit. Barry Perry, CEO and president of Fortis, says the company has set a 6% annual dividend growth target over the next five years. One of his priorities is to make long-term investments to modernize the power grid, such as putting into place protection against cyber security threats. Perry rang the opening bell at the New York Stock Exchange on Tuesday.