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Fool Canada’s first 1,000%+ winner?

Our Chief Investment Advisor, Iain Butler, and a team of The Motley Fool’s most talented investors from across the globe recently embarked on an unprecedented mission:

To identify the 20 Canadian small-cap companies they believe have the best shot at earning investors like you gains of 1,000%+ over the coming years.

For the next few days only, you can get the names and full details on these 20 potential “10-baggers” when you join Iain and his team in a first-of-its-kind project they have dubbed Discovery Canada 2017.

Worried About the Brexit? Buy 1 of These 3 Top Utility Stocks

In times of uncertainty in the market, utility stocks are sought after as safe havens, because regardless of what’s going on around the world, people and businesses still need to power their homes and offices. The largely regulated portfolios of utility companies also lead to stable and predictable cash flows, much of which is paid out to their shareholders in the form of dividends.

With all of this in mind, let’s take a look at three top utility stocks with great dividends that you could add to your portfolio today.

1. Fortis Inc.

Fortis Inc. (TSX:FTS) is one of the largest electric and gas utilities companies in North America with operations across Canada, the United States, and the Caribbean. Its subsidiaries include FortisBC, UNS Energy, Central Hudson, Maritime Electric, and Newfoundland Power.

It’s in the process of acquiring ITC Holdings Corp., one of the largest electric transmission companies in the U.S., and once this deal is completed, Fortis will become one of the 15 largest utilities companies in North America in terms of total assets.

Fortis currently pays a quarterly dividend of $0.375 per share, or $1.50 per share annually, which gives its stock a yield of approximately 3.5% at current levels.

Investors must also make two important notes about its dividend.

First, the company’s 10.3% dividend hike in September has it on pace for 2016 to mark the 44th consecutive year in which it has raised its annual dividend payment.

Second, it has a dividend-per-common-share growth target of 6% annually through 2020, and its strong operational performance and recent acquisitions positions it to extend this target well beyond 2020.

2. Emera Inc.

Emera Inc. (TSX:EMA) is one of the largest electric and gas utilities companies in North America with operations across Canada, the United States, and the Caribbean. Its subsidiaries include Nova Scotia Power, Emera Maine, Barbados Light & Power, and Emera Utility Services.

It’s in the process of acquiring TECO Energy, Inc., one of the largest electric and gas utilities companies in Florida and New Mexico, and once this deal is completed, Emera will become one of the 20 largest utilities companies in North America in terms of total assets.

Emera currently pays a quarterly dividend of $0.475 per share, or $1.90 per share annually, which gives its stock a yield of approximately 4% at current levels.

Investors must also make two important notes about its dividend.

First, the company’s two dividend hikes since the start of 2015, including its 18.8% hike in August, have it on pace for 2016 to mark the 10th consecutive year in which it has raised its annual dividend payment.

Second, it has a dividend-per-common-share growth target of 8% annually through 2019, and it has stated that its acquisition of TECO Energy positions it to extend this target beyond 2019.

3. Algonquin Power & Utilities Corp.

Algonquin Power & Utilities Corp. (TSX:AQN) owns and operates a diversified portfolio of renewable electric generation and sustainable utility distribution businesses in North America. Its subsidiaries include Algonquin Power Company and Liberty Utilities.

It’s in the process of acquiring Empire District Electric Co., one of the largest electric, natural gas, and water utilities companies in Missouri, Kansas, Oklahoma, and Arkansas.

Algonquin currently pays a quarterly dividend of US$0.1059 per share, or US$0.4235 per share annually, which gives its stock a yield of approximately 4.6% at current levels.

Investors must also make two important notes about its dividend.

First, the company’s two dividend hikes since the start of 2015, including its 10% hike last month, have it on pace for 2016 to mark the sixth consecutive year in which it has raised its annual dividend payment.

Second, it has a long-term dividend-per-common-share growth target of 10% annually, and its strong operational performance and its acquisition of Empire District Electric positions it to achieve this target for many years to come.

Stock buy alert hits astounding 96% success rate!

The hand-picked investing team inside Stock Advisor Canada, recently issued a buy alert for one special type of "bread-and-butter" stock where The Motley Fool U.S. has banked profits on 23 out of 24 recommendations. Frankly, with an astounding 96% success rate that has delivered average returns of 260%, chances are this new pick could deliver life-changing returns as well. Because the team at Stock Advisor Canada fully embraces the same time-tested investing philosophies that have led to countless Motley Fool winners globally. So simply click here to unlock the full details behind this new recommendation and join Stock Advisor Canada.

*96% accuracy includes restaurant stock recommendations from Motley Fool U.S. services Stock Advisor, Rule Breakers, Hidden Gems, Income Investor and Inside Value since each services inception. Returns as of 5/27/16.

Fool contributor Joseph Solitro has no position in any stocks mentioned.

NEW! This Stock Could Be Like Buying Amazon In 1997

For only the 5th time in over 14 years, Motley Fool co-founder David Gardner just issued a Buy Recommendation on this recent Canadian IPO.

Stock Advisor Canada’s Chief Investment Adviser, Iain Butler, also recommended this company back in March – and it’s already up a whopping 57%!

Enter your email address below to find out how you can claim your copy of this brand new report, “Breakthrough IPO Receives Rare Endorsement.”

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