The heat wave that hit certain parts of North America like British Columbia, Seattle, Portland, and New York highlights how essential utilities are.
Apparently, when utility infrastructures are built, extreme weather is not accounted for, which is why cities like New York warned citizens to conserve power. They asked citizens to avoid using major appliances and limit electricity usage to reduce the risk of a wide-area power outage.
Hundreds of lives have been lost because of this heat wave. The demographics that are most at risk include seniors, children, and pregnant women.
In any case, if you’re affected by the heat wave, make sure to stay hydrated and cool. Consider going to the mall to enjoy air conditioning in the hottest hours and stay under the shade when you’re outside.
Utilities are essential no matter if the economy is doing well or badly. People need to use electricity, gas, and water no matter what. So, utilities are one must-have dividend stock in your income portfolio. Specifically, you want utilities that are large enough to make stable earnings year in year out and pay sustainable dividends.
Here are some of the dividend-paying utility stocks that I own in my income portfolio: Algonquin Power & Utilities Corp. (TSX:AQN)(NYSE:AQN), Fortis (TSX:FTS)(NYSE:FTS), and Brookfield Infrastructure Partners L.P. (TSX:BIP.UN)(NYSE:BIP).Read More