Fortis Stock Price, News & Analysis

Fortis Inc. (TSX/NYSE: FTS) will disclose its 2022 financial results on February 10, 2023, during a teleconference at 8:30 a.m. (Eastern). CEO David Hutchens and CFO Jocelyn Perry will discuss the results. Interested parties can join by calling 1.416.764.8658 or 1.888.886.7786. A live and archived audio webcast will be available on the company's website. Fortis reported a revenue of $9.4 billion for 2021 and has total assets worth $64 billion as of September 30, 2022, serving customers in five Canadian provinces, nine U.S. states, and three Caribbean countries.

UniSource Energy Services has proposed updated electric rates to take effect in early 2024, marking its first rate request in seven years. The new rates aim to cover the costs of investments made since 2014 in infrastructure upgrades, including substations and maintenance, as well as rising fuel prices. The average monthly bill for residential customers is expected to increase by $18.52. Efforts to improve efficiency have kept operation costs below inflation rates. The proposal includes an increased monthly discount for low-income customers and eliminates transaction fees for most payments.

The Board of Directors of Fortis has announced dividends for multiple share series, all payable on March 1, 2023, to shareholders of record as of February 15, 2023. The dividends include $0.3063 for Series 'F', $0.2745625 for Series 'G', $0.11469 for Series 'H', $0.346562 for Series 'I', $0.2969 for Series 'J', $0.2455625 for Series 'K', $0.2445625 for Series 'M', and $0.565 for Common Shares. These dividends are designated as eligible for tax credits. Fortis is a major North American utility firm with a 2021 revenue of $9.4 billion.

Fortis reported a third-quarter net earnings of $326 million ($0.68 per share), up from $295 million in 2021. Adjusted earnings were $341 million ($0.71 per share), reflecting a robust investment of $2.9 billion year-to-date. The company announced its largest-ever capital investment plan of $22.3 billion for 2023-2027, emphasizing a shift towards cleaner energy. A quarterly dividend increase of approximately 6% marked 49 years of consecutive increases. The capital plan aims for 6.2% growth in rate base and includes $5.9 billion for cleaner energy projects.

Fortis Inc. (TSX/NYSE: FTS) will release its third quarter 2022 financial results and a five-year capital outlook for 2023-2027 on October 28, 2022. A teleconference will take place the same day at 8:30 a.m. (Eastern), featuring President and CEO David Hutchens and Executive VP and CFO Jocelyn Perry. Interested parties can join via call or through a webcast available on Fortis' website, with a replay accessible until November 28, 2022. Fortis, a leader in North American utilities, reported $9.4 billion in revenue for 2021 and total assets of $60 billion as of June 30, 2022.

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.

Fortis Inc. (FTS) is set to release its third quarter 2022 financial results and a five-year capital outlook for 2023-2027 on October 28, 2022. The teleconference, scheduled for 8:30 a.m. Eastern, will feature CEO David Hutchens and CFO Jocelyn Perry discussing the results. Interested parties can join via phone or through a webcast on the Fortis website. In 2021, Fortis reported revenues of $9.4 billion and total assets of $60 billion, serving customers across Canada, the U.S., and the Caribbean.

Fortis Inc. (TSX/NYSE: FTS) announces a leadership change with Douglas J. Haughey stepping down as Chair of the Board, effective January 1, 2023. Jo Mark Zurel will succeed him, following the Board's succession planning. Haughey, who has chaired since September 2016, is credited with steering the company towards organic growth post-U.S. expansion. Zurel, a board member since 2016 and experienced in governance, is expected to bring valuable leadership. Fortis reported 2021 revenues of $9.4 billion and has total assets of $60 billion as of June 30, 2022.