Fortis Inc. Announces Second Quarter Dividends - 2023

Rhea-AI Summary

The Board of Directors of Fortis has declared multiple dividends, payable on June 1, 2023, for shareholders of record on May 17, 2023. The declared dividends include:

• $0.3063 for First Preference Shares, Series "F"
• $0.2745625 for Series "G"
• $0.11469 for Series "H"
• $0.371529 for Series "I"
• $0.2969 for Series "J"
• $0.2455625 for Series "K"
• $0.2445625 for Series "M"
• $0.565 for Common Shares

All dividends are categorized as eligible dividends for tax credit purposes in Canada. Fortis is a major utility provider across North America, with 2021 revenues of $9.4 billion.

Positive

• Dividend payments totaling multiple amounts, providing income for shareholders.
• Common share dividend of $0.565 demonstrates confidence in ongoing financial performance.
• Eligibility for federal and provincial dividend tax credits enhances shareholder value.

Negative

• None.

ST. JOHN'S, Newfoundland and Labrador, Feb. 09, 2023 (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, 2023 to the Shareholders of Record at the close of business on May 17, 2023;
    
2. $0.2745625 per share on the First Preference Shares, Series "G" of the Corporation, payable on June 1, 2023 to the Shareholders of Record at the close of business on May 17, 2023;
    
3. $0.11469 per share on the First Preference Shares, Series "H" of the Corporation, payable on June 1, 2023 to the Shareholders of Record at the close of business on May 17, 2023;
    
4. $0.371529 per share on the First Preference Shares, Series "I" of the Corporation, payable on June 1, 2023 to the Shareholders of Record at the close of business on May 17, 2023;
    
5. $0.2969 per share on the First Preference Shares, Series "J" of the Corporation, payable on June 1, 2023 to the Shareholders of Record at the close of business on May 17, 2023;
    
6. $0.2455625 per share on the First Preference Shares, Series "K" of the Corporation, payable on June 1, 2023 to the Shareholders of Record at the close of business on May 17, 2023;
    
7. $0.2445625 per share on the First Preference Shares, Series "M" of the Corporation, payable on June 1, 2023 to the Shareholders of Record at the close of business on May 17, 2023; and
    
8. $0.565 per share on the Common Shares of the Corporation, payable on June 1, 2023 to the Shareholders of Record at the close of business on May 17, 2023.

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 2021 revenue of $9.4 billion and total assets of $64 billion as at September 30, 2022. The Corporation's 9,100 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/fe0127da-4437-47ca-9cac-08bac0f73075

FAQ

What are the dividend amounts declared by Fortis for June 2023?

Fortis has declared several dividends including $0.3063 for Series F, $0.2745625 for Series G, $0.11469 for Series H, $0.371529 for Series I, $0.2969 for Series J, $0.2455625 for Series K, $0.2445625 for Series M, and $0.565 for Common Shares.

When will Fortis pay dividends to shareholders?

Dividends will be paid on June 1, 2023, to shareholders of record on May 17, 2023.

Are the dividends from Fortis eligible for tax credits?

Yes, all dividend amounts declared by Fortis are designated as eligible dividends for federal and provincial dividend tax credit purposes.

What is the stock symbol for Fortis?

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