Fortis Inc. Announces First Quarter Dividends - 2022

Rhea-AI Summary

The Board of Directors of Fortis has declared dividends for its shareholders, effective March 1, 2022. The dividends include $0.3063 per share for Series 'F', $0.2745625 for Series 'G', $0.11469 for Series 'H', $0.098384 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 must be on record by February 15, 2022, to receive these dividends. Additionally, all declared dividends are eligible for federal and provincial dividend tax credits.

Positive

• Dividends declared on multiple preference share classes and common shares, indicating financial stability.
• Common share dividend of $0.535 enhances income for shareholders.

Negative

• None.

ST. JOHN'S, Newfoundland and Labrador, Nov. 18, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of Fortis Inc. ("Fortis" or the "Corporation") (TSX/NYSE: FTS) has declared the following dividends:

1. $0.3063 per share on the First Preference Shares, Series "F" of the Corporation, payable on March 1, 2022 to the Shareholders of Record at the close of business on February 15, 2022;
    
2. $0.2745625 per share on the First Preference Shares, Series "G" of the Corporation, payable on March 1, 2022 to the Shareholders of Record at the close of business on February 15, 2022;
    
3. $0.11469 per share on the First Preference Shares, Series "H" of the Corporation, payable on March 1, 2022 to the Shareholders of Record at the close of business on February 15, 2022;
    
4. $0.098384 per share on the First Preference Shares, Series "I" of the Corporation, payable on March 1, 2022 to the Shareholders of Record at the close of business on February 15, 2022;
    
5. $0.2969 per share on the First Preference Shares, Series "J" of the Corporation, payable on March 1, 2022 to the Shareholders of Record at the close of business on February 15, 2022;
    
6. $0.2455625 per share on the First Preference Shares, Series "K" of the Corporation, payable on March 1, 2022 to the Shareholders of Record at the close of business on February 15, 2022;
    
7. $0.2445625 per share on the First Preference Shares, Series "M" of the Corporation, payable on March 1, 2022 to the Shareholders of Record at the close of business on February 15, 2022; and,
    
8. $0.535 per share on the Common Shares of the Corporation, payable on March 1, 2022 to the Shareholders of Record at the close of business on February 15, 2022.

The Corporation has designated the common share dividend and preference share dividends as eligible dividends for federal and provincial dividend tax credit purposes.

About Fortis
Fortis is a well-diversified leader in the North American regulated electric and gas utility industry, with 2020 revenue of $8.9 billion and total assets of $57 billion as at September 30, 2021. The Corporation's 9,000 employees serve utility customers in five Canadian provinces, nine U.S. states and three Caribbean countries.

Fortis shares are listed on the TSX and NYSE and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com, www.sedar.com, or www.sec.gov.

A .pdf version of this press release is available at: http://ml.globenewswire.com/Resource/Download/ac4178be-3da7-4ea3-89e4-de20733d77e0 

For more information, please contact
Investor Enquiries:
Ms. Stephanie Amaimo
Vice President, Investor Relations
Fortis Inc.
248.946.3572
investorrelations@fortisinc.com

Media Enquiries:
Ms. Karen McCarthy
Vice President, Communications & Corporate Affairs
Fortis Inc.
709.737.5323
media@fortisinc.com 

FAQ

When is the dividend payment date for Fortis shares?

The dividend payment date for Fortis shares is March 1, 2022.

What is the amount of the common share dividend declared by Fortis?

The common share dividend declared by Fortis is $0.535 per share.

What are the key dates for Fortis's declared dividends?

Shareholders must be on record by February 15, 2022, to receive the declared dividends.

Are the dividends from Fortis eligible for tax credits?

Yes, all declared dividends are eligible for federal and provincial dividend tax credits.

What is the total dividend amount for Series I preference shares?

The total dividend amount for Series I preference shares is $0.098384 per share.