Welcome to our dedicated page for Fortis news (Ticker: FTS), a resource for investors and traders seeking the latest updates and insights on Fortis stock.
Fortis Inc. reports developments as a North American regulated electric and gas utility company with operations serving customers in Canada, the United States and the Caribbean. News about FTS commonly covers quarterly and annual results, regulated utility rate matters, capital spending plans, transmission and distribution investments, utility debt funding, and dividend declarations on common and preference shares.
Recurring Fortis updates also include annual meeting matters, director elections, auditor appointments, advisory compensation votes, disclosure-document filings, and investor presentations. Company releases often connect operating results to regulated rate base growth, service-territory investment, reliability projects and the financing needs of its utility portfolio.
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The Board of Directors of Fortis Inc. (TSX/NYSE: FTS) announced dividends for multiple share series, payable on September 1, 2022. The declared amounts are as follows: $0.3063 for Series 'F', $0.2745625 for Series 'G', $0.11469 for Series 'H', $0.178077 for Series 'I', $0.2969 for Series 'J', $0.2455625 for Series 'K', $0.2445625 for Series 'M', and $0.535 for Common Shares. Shareholders of record as of August 19, 2022, will benefit from these payments. The dividends are designated as eligible for federal and provincial tax credits.
Fortis Inc. will announce its Q2 2022 financial results on July 28, 2022, during a teleconference at 8:30 a.m. Eastern Time. President and CEO David Hutchens and CFO Jocelyn Perry will discuss the results. Interested participants can call 1.416.764.8646 or 1.888.396.8049 for international calls, 10 minutes prior to the start. A live and archived audio webcast will also be available on the Fortis website. Fortis generated $9.4 billion in revenue in 2021 and has total assets of $58 billion as of March 31, 2022.
Fortis Inc. (TSX/NYSE: FTS) will announce its second quarter 2022 financial results on July 28, 2022. A teleconference and webcast with CEO David Hutchens and CFO Jocelyn Perry will occur at 8:30 a.m. (Eastern) on the same day. Participants in North America can call 1.416.764.8646, and international participants can call 1.888.396.8049. A live and archived audio webcast will be available on Fortis's website. In 2021, Fortis reported revenues of $9.4 billion with total assets of $58 billion as of March 31, 2022.
Tucson Electric Power (TEP) is proposing a rate increase of 11.7%, effective September 2023, to support its transition to cleaner energy and improve service reliability. The average residential bill would rise by $14.22 as TEP invests in new wind and solar projects, grid improvements, and enhanced security measures. Despite rising operational costs, TEP has managed an average annual O&M cost increase of only 2.4% since 2018. The planned changes also include a higher Lifeline discount and removal of credit card transaction fees, reflecting TEP's commitment to assist customers.
Four Arizona energy providers, alongside three public universities, formed a coalition to drive towards a carbon-neutral economy. The initiative includes launching the 'Center for an Arizona Carbon-Neutral Economy' at Arizona State University to establish a regional clean hydrogen hub. This hub aims to mitigate carbon emissions and stimulate economic growth by creating high-quality jobs. The coalition seeks to align hydrogen production with consumer demand while engaging a diverse range of stakeholders, ultimately fostering a sustainable energy ecosystem in Arizona.
Archaea Energy Inc. (NYSE: LFG) reported preliminary Q1 2022 results, posting revenues of $56.9 million and a net loss of $33.2 million. The company increased its estimated long-term annual earnings power by 50% to approximately $600 million, attributed to adding 53 RNG development projects to its backlog. Key strategic moves include the $215 million acquisition of INGENCO, adding 14 LFGTE plants, and a landmark joint venture with Republic Services (NYSE: RSG) to invest $1.1 billion in developing 39 RNG facilities.
Fortis Inc. (TSX/NYSE: FTS) held its Annual and Special Meeting of Shareholders on May 5, 2022, where shareholders approved all agenda items. Key outcomes included the election of 13 directors, the appointment of Deloitte LLP as auditors, and the acceptance of the executive compensation approach. Shareholders also approved the amendment of the employee share purchase plan, increasing the share reserve by 3 million common shares. In 2021, Fortis reported revenue of $9.4 billion and total assets of $58 billion.
Fortis Inc. announced the retirement of Nora Duke, EVP of Sustainability and CHRO, after a 36-year career. Effective July 1, 2022, Jim Reid will take on the role of EVP, Sustainability and Chief Legal Officer, managing sustainability, HR, communications, and government relations. Under Reid's leadership, the corporation aims for net zero direct emissions by 2050. Fortis is a diversified leader in the North American utility sector, recording $9.4 billion in revenue and $58 billion in assets as of March 31, 2022.
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