Due to steady growth in its earnings, Fortis' annual dividend has increased for 44 consecutive years. The stock, which currently yields 3.87% with an annual payout of $1.80 a share, aims to continue raising its dividend at an average annual rate of about 6% through 2023. Bottom line At $47.07 at the time of writing, Fortis stock is trading close to the analysts' 12-month price target of $48 a share. But I see further gains if the economic environment worsens, forcing the Bank of Canada to stop its rate-hiking cycle. If you're a TFSA buy-and-hold investor, including Fortis stock in your portfolio is a good idea to earn steadily growing income.