trending Market Intelligence /marketintelligence/en/news-insights/trending/UyWOL4qmAVmXKaDSkOtMfw2 content esgSubNav
In This List

Fortis unveils C$18.3B capital investment plan, raises quarterly dividend

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Using ESG Analysis to Support a Sustainable Future

Research

US utility commissioners: Who they are and how they impact regulation

Blog

Q&A: Datacenters: Energy Hogs or Sustainability Helpers?


Fortis unveils C$18.3B capital investment plan, raises quarterly dividend

Fortis Inc. on Sept. 10 unveiled a five-year, C$18.3 billion capital investment plan for the period 2020 to 2024.

"Three years into our organic growth strategy, we are pleased to announce a (C)$1 billion increase in our five-year capital plan," President and CEO Barry Perry said in a news release. "The continuation of key industry trends including grid modernization, the delivery of cleaner energy and electrification are resulting in incremental investments in our U.S. and Caribbean businesses."

The company expects its consolidated rate base to increase from C$28 billion in 2019 to C$34.5 billion in 2022 and to C$38.4 billion in 2024.

Separately, Fortis declared a fourth-quarter 2019 common share dividend of 47.75 Canadian cents per common share, representing a 6.1% increase.

The dividend is payable Dec. 1 to common shareholders of record at the close of business Nov. 19.