Fortis Inc. Announces Second Quarter Dividends - 2022

Rhea-AI Summary

The Board of Directors of Fortis has declared various dividends totaling $0.3063, $0.2745625, $0.11469, $0.123948, $0.2969, $0.2455625, $0.2445625 per share on different First Preference Shares, payable on June 1, 2022. Additionally, a dividend of $0.535 per Common Share will also be paid on the same date. All shareholders of record by May 17, 2022, will be eligible. Fortis designates these dividends as eligible for federal and provincial dividend tax credits.

Positive

• Dividends indicate company confidence in profitability.
• Eligible dividends provide tax benefits to shareholders.

Negative

• None.

ST. JOHN'S, Newfoundland and Labrador, Feb. 10, 2022 (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 June 1, 2022 to the Shareholders of Record at the close of business on May 17, 2022;
    
2. $0.2745625 per share on the First Preference Shares, Series "G" of the Corporation, payable on June 1, 2022 to the Shareholders of Record at the close of business on May 17, 2022;
    
3. $0.11469 per share on the First Preference Shares, Series "H" of the Corporation, payable on June 1, 2022 to the Shareholders of Record at the close of business on May 17, 2022;
    
4. $0.123948 per share on the First Preference Shares, Series "I" of the Corporation, payable on June 1, 2022 to the Shareholders of Record at the close of business on May 17, 2022;
    
5. $0.2969 per share on the First Preference Shares, Series "J" of the Corporation, payable on June 1, 2022 to the Shareholders of Record at the close of business on May 17, 2022;
    
6. $0.2455625 per share on the First Preference Shares, Series "K" of the Corporation, payable on June 1, 2022 to the Shareholders of Record at the close of business on May 17, 2022;
    
7. $0.2445625 per share on the First Preference Shares, Series "M" of the Corporation, payable on June 1, 2022 to the Shareholders of Record at the close of business on May 17, 2022; and,
    
8. $0.535 per share on the Common Shares of the Corporation, payable on June 1, 2022 to the Shareholders of Record at the close of business on May 17, 2022.

The Corporation has designated the common share dividend and preference share dividends as eligible dividends for federal and provincial dividend tax credit purposes. All amounts are given in Canadian dollars unless otherwise indicated.

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.

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

A .pdf version of this press release is available at: http://ml.globenewswire.com/Resource/Download/50c2eac9-1b67-46ff-83d8-86984995614f

FAQ

What are the dividend amounts declared by Fortis on February 10, 2022?

Fortis declared dividends of $0.3063, $0.2745625, $0.11469, $0.123948, $0.2969, $0.2455625, and $0.2445625 per share for various First Preference Shares, and $0.535 per Common Share.

When will the Fortis dividends be paid?

The dividends will be paid on June 1, 2022.

What is the record date for Fortis dividends?

The record date for the dividends is May 17, 2022.

Are the Fortis dividends eligible for tax credits?

Yes, Fortis has designated the dividends as eligible for federal and provincial dividend tax credits.

What is the stock symbol for Fortis?

Fortis is traded under the stock symbol FTS on both TSX and NYSE.