Fortis Inc. announces quarterly dividend increase

0


ST. JOHN’S, Newfoundland and Labrador, September 29, 2021 (GLOBE NEWSWIRE) – The board of directors of Fortis Inc. (“Fortis” or the “Company”) (TSX / NYSE: FTS) has declared a dividend on common shares of $ 0.535 per on the issued and outstanding fully paid common shares of the Company, representing an increase of approximately 6% of the quarterly dividend, payable on December 1, 2021 to common shareholders of record at the close of business on November 17, 2021 , marking 48 consecutive years of dividend increases. Fortis’ dividend increase is in line with the Company’s target of an average annual dividend growth of 6% through 2025.

The Board declared the following dividends:

  1. $ 0.3063 per share on the Company’s First Preferred Shares, Series “F”, payable December 1, 2021 to shareholders of record at the close of business on November 17, 2021;
  2. $ 0.2745625 per share on the First Preferred Shares, Series “G” of the Company, payable December 1, 2021 to shareholders of record at the close of business on November 17, 2021;
  3. $ 0.11469 per share on the Company’s First Preferred Shares, Series “H”, payable December 1, 2021 to shareholders of record at the close of business on November 17, 2021;
  4. $ 0.101596 per share on the First Preferred Shares, Series “I” of the Company, payable December 1, 2021 to shareholders of record at the close of business on November 17, 2021;
  5. $ 0.2969 per share on the Company’s First Preferred Shares, Series “J”, payable December 1, 2021 to shareholders of record at the close of business on November 17, 2021;
  6. $ 0.2455625 per share on the Company’s First Preferred Shares, Series “K”, payable December 1, 2021 to shareholders of record at the close of business on November 17, 2021;
  7. $ 0.2445625 per share on the First Preferred Shares, Series “M” of the Company, payable December 1, 2021 to shareholders of record at the close of business on November 17, 2021; and,
  8. $ 0.535 per share on the common shares of the Company, payable on December 1, 2021 to shareholders of record at the close of business on November 17, 2021.

The Company has designated common stock dividends and preferred stock dividends as eligible dividends for federal and provincial dividend tax credit purposes.

About Fortis
Fortis is a well-diversified leader in the North American regulated electric and gas utility industry, with 2020 revenues of $ 8.9 billion and total assets of $ 56 billion as of June 30, 2021. The Company’s 9,000 employees serve utility customers in five Canadian provinces, nine US states and three Caribbean countries.

Fortis shares are listed on the TSX and NYSE and trade under the symbol FTS. Additional information is available at www.fortisinc.com, www.sedar.com or www.sec.gov.

Forward-looking information
Fortis includes forward-looking information in this press release within the meaning of applicable Canadian securities laws and forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking information”). The forward-looking information included in this document reflects the expectations of Fortis management regarding future growth, results of operations, performance and business prospects and opportunities. Whenever possible, words such as anticipate, believe, budget, might, estimate, expect, foresee, intend, may, could, plan, project, should, target, wants, would, and the negative of these and other similar terms or expressions have been used to identify forward-looking information, which includes, but is not limited to: the targeted average annual dividend growth to 2025.

Forward-looking information involves significant risks, uncertainties and assumptions. Certain important factors or assumptions have been applied in drawing the conclusions contained in the forward-looking information, including, without limitation: the continued good performance of our utilities; the growth of our service areas; reasonable results for regulatory procedures and the expectation of regulatory stability; no material impact from the COVID-19 pandemic; the proper execution of the five-year capital investment plan; and the board exercising its discretion to declare dividends, taking into account the business performance and financial condition of the company. Fortis cautions readers that a number of factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking information. For further information on certain risk factors, please refer to the continuous disclosure documents filed from time to time by the Company with Canadian securities regulators and the Securities and Exchange Commission. All forward-looking information contained in this document is given as of the date of this press release. Fortis disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

A .pdf version of this press release is available at: http://ml.globenewswire.com/Resource/Download/8d925170-ae65-48f3-8bb7-ec2df062495b

For more information please contact
Investor requests:
Ms. Stéphanie Amaimo
Vice-President, Investor Relations
Fortis Inc.
248.946.3572
investor [email protected]

Media inquiries:
Ms. Karen McCarthy
Vice-President, Communications and Corporate Affairs
Fortis Inc.
709.737.5323
[email protected]


Share.

Comments are closed.