Fortis Inc. Announces Quarterly Dividend Increase Marking 49 Consecutive Years of Increases
Rhea-AI Summary
Fortis Inc. (TSX/NYSE: FTS) announced a $0.565 per share common dividend, a 6% increase, marking 49 consecutive years of dividend growth. The dividend is payable on December 1, 2022 to shareholders on record as of November 17, 2022. Additionally, various dividends for preference shares were declared, also payable on the same date. Each dividend is designated as an eligible dividend for tax credit purposes. Fortis reported $9.4 billion in revenue for 2021, serving customers across Canada, the U.S., and the Caribbean.
Positive
- 6% increase in common share dividend to $0.565, enhancing shareholder income.
- 49 years of consecutive dividend increases, indicating strong company confidence.
- Dividends designated as eligible for federal and provincial tax credits.
Negative
- None.
News Market Reaction – FTS
In the trading session that priced this news, FTS declined 3.59%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
ST. JOHN'S, Newfoundland and Labrador, Sept. 28, 2022 (GLOBE NEWSWIRE) -- The Board of Directors of Fortis Inc. ("Fortis" or the "Corporation") (TSX/NYSE: FTS) declared a common share dividend of
The Board has declared the following dividends:
$0.3063 per share on the First Preference Shares, Series "F" of the Corporation, payable on December 1, 2022 to the Shareholders of Record at the close of business on November 17, 2022;
$0.2745625 per share on the First Preference Shares, Series "G" of the Corporation, payable on December 1, 2022 to the Shareholders of Record at the close of business on November 17, 2022;
$0.11469 per share on the First Preference Shares, Series "H" of the Corporation, payable on December 1, 2022 to the Shareholders of Record at the close of business on November 17, 2022;
$0.267141 per share on the First Preference Shares, Series "I" of the Corporation, payable on December 1, 2022 to the Shareholders of Record at the close of business on November 17, 2022;
$0.2969 per share on the First Preference Shares, Series "J" of the Corporation, payable on December 1, 2022 to the Shareholders of Record at the close of business on November 17, 2022;
$0.2455625 per share on the First Preference Shares, Series "K" of the Corporation, payable on December 1, 2022 to the Shareholders of Record at the close of business on November 17, 2022;
$0.2445625 per share on the First Preference Shares, Series "M" of the Corporation, payable on December 1, 2022 to the Shareholders of Record at the close of business on November 17, 2022; and,
$0.565 per share on the Common Shares of the Corporation, payable on December 1, 2022 to the Shareholders of Record at the close of business on November 17, 2022.
The Corporation has designated the common share dividend and preference share dividends as eligible dividends for federal and provincial dividend tax credit purposes. All amounts are given in Canadian dollars unless otherwise indicated.
About Fortis
Fortis is a well-diversified leader in the North American regulated electric and gas utility industry, with 2021 revenue of
Fortis shares are listed on the TSX and NYSE and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com, www.sedar.com or www.sec.gov.
A .pdf version of this press release is available at: http://ml.globenewswire.com/Resource/Download/db20354b-31ea-4b14-b806-910a11420c32
For more information, please contact
Investor Enquiries:
Ms. Stephanie Amaimo
Vice President, Investor Relations
Fortis Inc.
248.946.3572
investorrelations@fortisinc.com
Media Enquiries:
Ms. Karen McCarthy
Vice President, Communications & Corporate Affairs
Fortis Inc.
709.737.5323
media@fortisinc.com
