Welcome to our dedicated page for Fortis Common Shares news (Ticker: FTS), a resource for investors and traders seeking the latest updates and insights on Fortis Common Shares stock.
Fortis Inc. (symbol: FTS) is a prominent player in the North American electric and gas utility sector. With total assets of approximately $28 billion and a revenue of $5.4 billion for the fiscal year 2014, Fortis Inc. has cemented its position as a leader in the industry. The company provides regulated utility services to over 3 million customers across Canada, the United States, and the Caribbean.
Fortis operates eight key utility transmission and distribution subsidiaries across North America, serving more than 3.4 million electricity and gas customers. These subsidiaries are integral to the company's mission of delivering reliable energy. In the United States, subsidiary ITC Holdings Corp operates in seven states, managing over 16,000 miles of high-voltage transmission lines.
In addition to its significant presence in the electricity and gas distribution industry, Fortis also holds investments in electricity generation and various Caribbean utilities. The company's strategic approach to expansion and infrastructure development has further solidified its footprint in the utility sector.
The latest updates from Fortis include forward-looking statements on its projects and financial conditions, sourced from Tucson Electric Power and UniSource Energy Services. These updates can be found in their designated news releases, accessible through their official website and other financial information platforms like SEDAR and SEC.
Fortis Inc. shares are listed on the Toronto Stock Exchange (TSX) and the New York Stock Exchange (NYSE) under the symbol FTS, reflecting their stability and growth potential in the global market.
Fortis Inc. (TSX/NYSE: FTS) announced the renewal of its at-the-market equity program (ATM Program), allowing the issuance of up to C$500,000,000 (or US dollar equivalent) in common shares. The shares will be sold through the TSX and NYSE at prevailing market prices, with the program effective until January 10, 2027. The ATM Program provides additional financing flexibility for Fortis's capital program, with proceeds intended for general corporate purposes. The distribution will be managed through an equity distribution agreement with several major financial institutions acting as Canadian and US agents.
Fortis (TSX/NYSE: FTS) has announced its first quarter dividends for 2025, payable on March 1, 2025, to shareholders of record as of February 18, 2025. The dividend declaration includes payments for various series of First Preference Shares and Common Shares:
- First Preference Shares: Series F ($0.3063), Series G ($0.3826875), Series H ($0.11469), Series I ($0.313952), Series J ($0.2969), Series K ($0.3418125), and Series M ($0.3433125)
- Common Shares: $0.615
The company has designated both common share and preference share dividends as eligible for federal and provincial dividend tax credits. All amounts are in Canadian dollars.
Fortis Inc. (TSX/NYSE: FTS) reported strong Q3 2024 results with net earnings of $420 million ($0.85 per share), up from $394 million ($0.81 per share) in Q3 2023. The company announced a $26 billion capital plan for 2025-2029, projecting 6.5% average annual rate base growth. Capital expenditures for 2024 are expected to reach $5.2 billion, with $3.6 billion invested through September. The Board declared a 4.2% increase in Q4 dividend, marking 51 consecutive years of dividend increases. Growth was driven by rate base expansion across utilities and strong earnings in Arizona, partially offset by higher operating costs at Central Hudson and increased holding company finance costs.
Fortis Inc. (TSX/NYSE: FTS) has announced it will release its third quarter 2024 financial results on Tuesday, November 5, 2024. The company will hold a teleconference and webcast at 8:30 a.m. (Eastern) on the same day. David Hutchens, President and CEO, and Jocelyn Perry, Executive VP and CFO, will discuss the quarterly results. The event will be accessible via live webcast on the company's website, with toll-free participation available for North American financial community members. A replay will be available until December 5, 2024.
Fortis Inc. (TSX/NYSE: FTS) has announced it will release its third quarter 2024 financial results on Tuesday, November 5, 2024. A teleconference and webcast will be held the same day at 8:30 a.m. (Eastern) to discuss the results. David Hutchens, President and CEO, and Jocelyn Perry, Executive VP and CFO, will lead the discussion.
Interested parties can listen to the live webcast on the company's website. Financial analysts in North America can participate toll-free by calling 1.800.717.1738, while those outside North America can call 1.289.514.5100. Participants are advised to dial in 10 minutes before the call starts. No passcode is required. A replay of the teleconference will be available until December 5, 2024, by calling 1.888.660.6264 or 1.289.819.1325 with passcode 33826#.
Fortis Inc. (TSX/NYSE: FTS) has announced its 2025-2029 outlook, featuring a $26 billion five-year capital plan, which is $1 billion higher than the previous plan. The company projects a 6.5% average annual rate base growth through 2029. Key highlights include:
1. Increased regulated growth driven by transmission investments at ITC and customer growth in Alberta.
2. ITC estimates at least US$3 billion in investments for MISO's LRTP Tranche 2.1, with the majority expected post-2029.
3. Fourth quarter common share dividend increasing by 4.2%, marking 51 years of consecutive dividend increases.
4. Annual dividend growth guidance of 4-6% extended to 2029.
The new capital plan is expected to increase midyear rate base from $38.8 billion in 2024 to $53.0 billion by 2029. Funding will primarily come from cash from operations and regulated debt.
Fortis Inc. (TSX/NYSE: FTS) announced that its subsidiary, Fortis Energy Caribbean Inc. (FECI), will provide a standby commitment for a rights offering by Caribbean Utilities Company, (CUC) (TSX: CUP.U). CUC plans to issue up to 3,822,298 Class A Ordinary Shares, representing 10% of its current outstanding shares. FECI will acquire a minimum of 2,220,422 CUC shares at US$13.41 per share, totaling US$29,775,859.02. The standby commitment allows FECI to acquire up to 1,601,876 additional shares at the same price.
If no other subscribers participate, FECI could acquire all 3,822,298 CUC shares for US$51,257,016.18. Fortis currently owns about 58% of CUC shares and could increase its ownership to 62% if there are no other subscribers. The rights offering, expected to close around November 4, 2024, aims to finance alternative energy projects and system upgrades for CUC.
Fortis Inc. (TSX/NYSE: FTS) released its second quarter 2024 results and 2024 Sustainability Report. Highlights include:
- Q2 net earnings of $331 million or $0.67 per common share, up from $294 million or $0.61 in 2023
- Adjusted net earnings per share of $0.67, up from $0.62 in Q2 2023
- Capital expenditures of $2.3 billion in first half of 2024; $4.8 billion annual plan on track
- 33% reduction in direct GHG emissions through 2023 compared to 2019 levels
- $25 billion five-year capital plan expected to increase midyear rate base to $49.4 billion by 2028
Fortis continues to focus on executing its capital plan, leveraging its diversified utility portfolio, and pursuing growth opportunities within its service territories.
Fortis Inc. (TSX/NYSE: FTS) has announced its third quarter dividends for 2024. The Board of Directors has declared dividends payable on September 1, 2024, to shareholders of record at the close of business on August 20, 2024. The dividend for common shares is set at $0.59 per share. Various preference shares will receive dividends ranging from $0.11469 to $0.402658 per share. All dividends are in Canadian dollars and have been designated as eligible dividends for federal and provincial dividend tax credit purposes. This announcement is incorporated as a "Designated News Release" in Fortis' prospectus supplement dated September 19, 2023.
Fortis Inc. (TSX/NYSE: FTS) has announced that it will release its second quarter 2024 financial results on Wednesday, July 31, 2024. The company will hold a teleconference and webcast on the same day at 8:30 a.m. (Eastern) to discuss the results. David Hutchens, President and CEO, and Jocelyn Perry, Executive VP and CFO, will lead the discussion.
Shareholders, analysts, media, and other interested parties are invited to participate. The event will be accessible via live webcast on the company's website. North American participants can call toll-free at 1.800.717.1738, while international participants can dial 1.289.514.5100. A replay of the teleconference will be available until August 31, 2024.
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