Why take a chance on the Toronto-based utility when there are bigger yields to be had elsewhere?
The U.S. bond market, where yields on 10-year Treasury notes are lower than yields on three-month bills – an unusual situation known as anUtilities can sail through periods when corporate profits are falling and unemployment rates are rising, since consumers need power in good times and bad.
What stands out even more: Hydro One’s share price is up about 80 per cent over the past four years, even as the dividend has crept up by just 5 per cent each year over this period. That explains the declining yield.
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