ST. JOHN'S, NEWFOUNDLAND AND LABRADOR - The Board of Directors of Fortis Inc. (the "Corporation") (TSX:FTS) has declared a common share dividend of $0.31 per share on the issued and outstanding fully paid Common Shares of the Corporation, payable on March 1, 2013 to the Common Shareholders of Record at the close of business on February 14, 2013.
The 3.3 per cent increase in the quarterly common share dividend to $0.31 from $0.30 extends the Corporation's record of annual common share dividend payment increases to 40 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:
- $0.340625 per share on the First Preference Shares, Series "C" of the Corporation, payable on March 1, 2013 to the Shareholders of Record at the close of business on February 14, 2013;
- $0.3063 per share on the First Preference Shares, Series "E" of the Corporation, payable on March 1, 2013 to the Shareholders of Record at the close of business on February 14, 2013;
- $0.3063 per share on the First Preference Shares, Series "F" of the Corporation, payable on March 1, 2013 to the Shareholders of Record at the close of business on February 14, 2013;
- $0.3281 per share on the First Preference Shares, Series "G" of the Corporation, payable on March 1, 2013 to the Shareholders of Record at the close of business on February 14, 2013;
- $0.2656 per share on the First Preference Shares, Series "H" of the Corporation, payable on March 1, 2013 to the Shareholders of Record at the close of business on February 14, 2013; and
- $0.35137 per share on the First Preference Shares, Series "J" of the Corporation, payable on March 1, 2013 to the Shareholders of Record at the close of business on February 14, 2013.
Fortis has designated the common share dividend and preference share dividends as eligible dividends for federal and provincial dividend tax credit purposes.
Fortis is the largest investor-owned distribution utility in Canada, with total assets of more than $14 billion and fiscal 2011 revenue totalling approximately $3.7 billion. The Corporation serves more than 2,000,000 gas and electricity customers. Its regulated holdings include electric distribution utilities in five Canadian provinces and two Caribbean countries and a natural gas utility in British Columbia, Canada. Fortis owns and operates non-regulated generation assets across Canada and in Belize and Upstate New York. It also owns hotels and commercial office and retail space in Canada.
The Common Shares; First Preference Shares, Series C; 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; and Subscription Receipts of Fortis are traded on the Toronto Stock Exchange under the symbols FTS, FTS.PR.C, FTS.PR.E, FTS.PR.F, FTS.PR.G, FTS.PR.H, FTS.PR.J and FTS.R respectively. Fortis information can be accessed on the Corporation's website at www.fortisinc.com and on SEDAR at www.sedar.com.