Fortis Inc.
TSX : FTS

Fortis Inc.

December 17, 2014 11:50 ET

Fortis Inc. Announces First Quarter Dividends-2015: Increases Quarterly Common Share Dividend by 6.25 Per Cent

Marks 42 Consecutive Years of Annual Common Share Dividend Payment Increases

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwired - Dec. 17, 2014) -

The Board of Directors of Fortis Inc. (the "Corporation") (TSX:FTS) has declared a common share dividend of $0.34 per share on the issued and outstanding fully paid Common Shares of the Corporation, payable on March 1, 2015 to the Common Shareholders of Record at the close of business on February 17, 2015.

The 6.25 per cent increase in the quarterly common share dividend to $0.34 from $0.32 extends the Corporation's record of annual common share dividend payment increases to 42 consecutive years, the longest record of any public corporation in Canada.

The Board of Directors also declared the following dividends on its First Preference Shares:

  1. $0.3063 per share on the First Preference Shares, Series "E" of the Corporation, payable on March 1, 2015 to the Shareholders of Record at the close of business on February 17, 2015;
  1. $0.3063 per share on the First Preference Shares, Series "F" of the Corporation, payable on March 1, 2015 to the Shareholders of Record at the close of business on February 17, 2015;
  1. $0.2427 per share on the First Preference Shares, Series "G" of the Corporation, payable on March 1, 2015 to the Shareholders of Record at the close of business on February 17, 2015;
  1. $0.2656 per share on the First Preference Shares, Series "H" of the Corporation, payable on March 1, 2015 to the Shareholders of Record at the close of business on February 17, 2015;
  1. $0.2969 per share on the First Preference Shares, Series "J" of the Corporation, payable on March 1, 2015 to the Shareholders of Record at the close of business on February 17, 2015;
  1. $0.2500 per share on the First Preference Shares, Series "K" of the Corporation, payable on March 1, 2015 to the Shareholders of Record at the close of business on February 17, 2015; and
  1. $0.25625 per share on the First Preference Shares, Series "M" of the Corporation, payable on March 1, 2015 to the Shareholders of Record at the close of business on February 17, 2015.

Fortis has designated the common share dividend and preference share dividends as eligible dividends for federal and provincial dividend tax credit purposes.

Fortis Inc. is a leader in the North American electric and gas utility business, with total assets of more than $25 billion and fiscal 2013 revenue exceeding $4 billion. Its regulated utilities account for approximately 90% of total assets and serve more than 3 million customers across Canada and in the United States and the Caribbean. Fortis owns non-regulated hydroelectric generation assets in Canada, Belize and Upstate New York. The Corporation's non-utility investment is comprised of hotels and commercial real estate in Canada.

The Common Shares; First Preference Shares, Series E; First Preference Shares, Series F; First Preference Shares, Series G; First Preference Shares, Series H; First Preference Shares, Series J; First Preference Shares, Series K; and First Preference Shares, Series M of Fortis are listed on the Toronto Stock Exchange and trade under the symbols FTS, FTS.PR.E, FTS.PR.F, FTS.PR.G, FTS.PR.H, FTS.PR.J, FTS.PR.K and FTS.PR.M, respectively. Fortis information can be accessed on the Corporation's website at www.fortisinc.com and on SEDAR at www.sedar.com.

Contact Information

  • Ms. Donna Hynes
    Manager, Investor & Public Relations
    Fortis Inc.
    709.737.2800