Fortis Inc.
TSX : FTS

Fortis Inc.

May 07, 2007 15:46 ET

Fortis Announces Third Quarter Dividends-2007

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(CCNMatthews - May 7, 2007) - Today, the Board of Directors of Fortis Inc. (the "Corporation") (TSX:FTS) has declared the following dividends:

1. $0.21 per share on the issued and outstanding fully paid Common Shares of the Corporation, payable on September 1, 2007 to the Common Shareholders of Record at the close of business on August 10, 2007;

2. $0.340625 per share on the First Preference Shares, Series "C" of the Corporation, payable on September 1, 2007 to the Shareholders of Record at the close of business on August 10, 2007;

3. $0.3063 per share on the First Preference Shares, Series "E" of the Corporation, payable on September 1, 2007 to the Shareholders of Record at the close of business on August 10, 2007; and,

4. $0.3063 per share on the First Preference Shares, Series "F" of the Corporation, payable on September 1, 2007 to the Shareholders of Record at the close of business on August 10, 2007.

Fortis Inc., a holding company based in Canada, has approximately $5.5 billion in assets and $1.5 billion in annual revenues. It owns electric utilities in 5 Canadian provinces and 3 Caribbean countries and has non-regulated hydroelectric generation across Canada and in Belize and Upper New York State. Fortis also owns hotels and commercial real estate in Canada. On February 26, 2007, Fortis agreed to acquire the natural gas distribution business of Terasen Inc. from Kinder Morgan, Inc. for $3.7 billion. Terasen, the third largest gas distribution utility in Canada, serves approximately 900,000 customers in British Columbia. The acquisition is expected to close during the second quarter of 2007.

The Common Shares; First Preference Shares, Series C; First Preference Shares, Series E; First Preference Shares, Series F and Subscription Receipts of Fortis are traded on the Toronto Stock Exchange under the symbols FTS, FTS.PR.C, FTS.PR.E, FTS.PR.F and FTS.R, respectively. Fortis information can be accessed at www.fortisinc.com or www.sedar.com.

Contact Information

  • Fortis Inc.
    Ms. Donna Hynes
    Manager, Investor Relations
    709-737-2800
    709-737-5307 (FAX)
    www.fortisinc.com