Fortis Stock Price, News & Analysis

Fortis Inc. (TSX/NYSE: FTS) announced a $0.535 common share dividend, reflecting a 6% increase, scheduled for December 1, 2021. This increase marks the company's 48 consecutive years of rising dividends, aligning with its guidance of 6% average annual growth through 2025. Preference share dividends were also declared, with payments due on the same date. Fortis, a leader in the North American utility sector, reported $8.9 billion in revenue for 2020 and assets of $56 billion as of June 30, 2021.

Fortis Inc. (TSX/NYSE: FTS) announced the retirement of Jim Laurito, Executive Vice President of Business Development and Chief Technology Officer, effective December 31, 2021. He is succeeded by Stuart Lochray as Senior Vice President, Capital Markets and Business Development, starting September 8, 2021. David Hutchens, President and CEO, recognized Laurito's contribution and welcomed Lochray, noting his 18 years of experience in finance and investment banking, particularly in the power and utilities sector. Fortis reported revenue of $8.9 billion in 2020 and possesses total assets of $56 billion.

The Board of Directors of Fortis has declared dividends on its preference and common shares, all payable on September 1, 2021. The dividend amounts include $0.3063 per share for Series 'F', $0.2745625 for Series 'G', $0.11469 for Series 'H', $0.097734 for Series 'I', $0.2969 for Series 'J', $0.2455625 for Series 'K', $0.2445625 for Series 'M', and $0.505 for Common Shares. Shareholders of record as of August 19, 2021, will receive these dividends, designated as eligible for federal and provincial dividend tax credits.

Fortis Inc. (TSX/NYSE: FTS) will release its second quarter 2021 financial results on July 29, 2021, alongside its 2021 Sustainability Update Report. A teleconference is scheduled for the same day at 8:30 a.m. Eastern, featuring David Hutchens, President and CEO, and Jocelyn Perry, CFO, discussing the results. Stakeholders can join via a dedicated phone line or through a live webcast on the company's website. Fortis reported $8.9 billion in revenue for 2020 and has total assets of $56 billion as of March 31, 2021, serving customers across five Canadian provinces and nine U.S. states.

Fortis Inc. (TSX/NYSE: FTS) is set to release its second quarter 2021 financial results and Sustainability Update Report on July 29, 2021. A teleconference will occur at 8:30 a.m. Eastern, led by CEO David Hutchens and CFO Jocelyn Perry. Interested parties can join by calling 1.877.223.4471 or 647.788.4922 for international participants. The live audio webcast will also be available on Fortis' website. For 2020, the company reported revenues of $8.9 billion and total assets of $56 billion as of March 31, 2021, with 9,000 employees serving customers across North America and the Caribbean.

Fortis Inc. (TSX/NYSE: FTS) held its Annual Meeting of Shareholders virtually on May 6, 2021, where all items of business were approved. Shareholders elected 12 directors, achieving gender parity on the Board. Deloitte LLP was appointed as the auditors. An advisory vote on executive compensation was also approved, with 97.13% of votes in favor. In 2020, Fortis reported revenues of $8.9 billion and total assets of $56 billion. The company serves utility customers across five Canadian provinces, nine US states, and three Caribbean countries.

Fortis released its first quarter results for 2021, showcasing a net earnings increase to $355 million or $0.76 per share, compared to $312 million in 2020. Adjusted net earnings rose to $360 million or $0.77 per share, up from $315 million. The corporation's capital expenditures amounted to $0.9 billion, part of a $3.8 billion annual plan. Credit ratings were affirmed by S&P and upgraded by DBRS. The Oso Grande Wind Project was completed, and the outlook for Fortis remains positive with a 6% dividend growth guidance.