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Fortis to terminate consumer share purchase plan

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Fortis to terminate consumer share purchase plan

Fortis Inc. on Aug. 11 said it plans to terminate its consumer share purchase plan, or CSPP, effective Sept. 13.

The company and the administrator of the plan, Computershare Trust Co. of Canada, will notify the CSPP participants to transfer their CSPP common shares to the company's dividend reinvestment and share purchase plan, or DRIP.

The DRIP provides a 2% discount to the Toronto Stock Exchange market price for all common shares purchased by the participants, the company said.