Canadians with contribution room in their self-directed Registered Retirement Savings Plan (RRSP) portfolios are wondering which top TSX dividend stocks are still trading at reasonable prices and might be good to buy for a portfolio targeting dividends and total returns.
Fortis
Fortis (TSX:FTS) just increased its dividend by 4.2%. This is the 51st consecutive year the board has given investors a raise. Steady dividend hikes tend to support a rising stock price over time, especially when the increases are driven by revenue growth and higher cash flow.
Fortis is working on a $26 billion capital program that will boost the rate base from about $39 billion in 2024 to $54 billion in 2029. As new assets are completed and go into service there should be a boost to cash flow to support planned annual dividend increases of 4% to 6% over the next five years. That’s the kind of guidance RRSP investors want to see for their buy-and-hold…
