Fortis Inc. (“Fortis” or the “Corporation”) (TSX/NYSE: FTS), a well-diversified leader in the North American regulated electric and gas utility industry, released its 2024-2028 outlook1.
- 2024-2028 capital plan of $25.0 billion, representing 6.3% rate base growth; up $2.7 billion from 2023-2027 five-year plan
- Growth largely driven by investments in transmission in the U.S. Midwest and resource transition plan in Arizona
- Fourth quarter common share dividend increasing by 4.4%, will mark 50 years of consecutive increases in dividends paid
- Annual dividend growth guidance of 4-6% extended to 2028
“Our Board of Directors declared a fourth quarter dividend representing a 4.4% increase that will mark 50 years of consecutive increases in dividends paid,” said David Hutchens, President and CEO, Fortis Inc. “This makes Fortis one of only two companies listed on the Toronto Stock Exchange to reach this significant milestone.”
“Our sustainable regulated growth strategy is focused on delivering cleaner energy that remains affordable and reliable for our customers while supporting annual dividend growth of 4-6% through 2028,” said Mr. Hutchens.Fortis, Inc.