Why I Just Bought These Utilities | The Motley Fool Canada: "ATCO for dividend growth
I bought ATCO Ltd. (TSX:ACO.X) at about $36 for a yield of 2.7%. It has increased its dividend for 21 consecutive years. ATCO has fallen over 4% since I bought it, but I’m not worried.
The diversified utility has a long history of operation. It was founded in 1947 in Alberta and has grown into a company with global assets of roughly $19 billion.
Although it only yields 2.9% today, in the last three years it increased the dividend at an amazing average rate of 14.7% per year. Believe it or not, a 2.9% yield is historically high for the utility. It is anticipated to increase the dividend in the first quarter of next year, too."
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