Fortis Inc. Announces Results of Series H First Preference Share and Series I Preference Share Conversions
June 02 2025 - 6:00AM
Fortis Inc. ("Fortis" or the "Corporation") (TSX: FTS) announced
today that 11,298 of its 7,665,082 issued and outstanding
Cumulative Redeemable Five-Year Fixed Rate Reset First Preference
Shares, Series H ("Series H Shares") were tendered for conversion,
on a one-for-one basis, into Cumulative Redeemable Floating Rate
First Preference Shares, Series I ("Series I Shares") and that
248,830 of its 2,334,918 Series I Shares were tendered for
conversion, on a one-for-one basis, into Series H Shares. As a
result of the conversion, Fortis has 7,902,614 Series H Shares and
2,097,386 Series I Shares issued and outstanding. The Series H
Shares and the Series I Shares will continue to be listed on the
Toronto Stock Exchange ("TSX") under the symbols FTS.PR.H and
FTS.PR.I, respectively.
The Series H Shares will pay on a quarterly
basis, for the five-year period beginning on June 1, 2025, if, as
and when declared by the Board of Directors of Fortis, a fixed
dividend based on an annual fixed dividend rate of 4.183
percent.
The Series I Shares will pay a floating
quarterly dividend for the five-year period beginning on June 1,
2025, if, as and when declared by the Board of Directors of Fortis.
The floating quarterly dividend rate for the Series I Shares for
the first quarterly floating rate period (being the period from and
including June 1, 2025 and ending on and including August 31, 2025)
is based on an annual floating dividend rate of 4.103 percent and
will be reset every quarter based on the applicable three-month
Government of Canada Treasury Bill rate plus 1.450 percent.
For more information on the terms of, and risks
associated with an investment in, the Series H Shares and the
Series I Shares, please see the Corporation's short form prospectus
dated January 18, 2010 relating to the issuance of the Series H
Shares, which can be found under the Corporation's profile on
SEDAR+ at www.sedarplus.ca and on the Corporation's website at
www.fortisinc.com.
About
Fortis
Fortis is a well-diversified leader in the North
American regulated electric and gas utility industry, with 2024
revenue of $12 billion and total assets of $75 billion as at March
31, 2025. The Corporation's 9,800 employees serve utility customers
in five Canadian provinces, ten 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.sedarplus.ca, or www.sec.gov.
A .pdf version of this press release is
available
at: http://ml.globenewswire.com/Resource/Download/30ffb1bf-d451-4e66-be24-36d7a4931b49
For more information, please
contact:
Investor Enquiries:Ms. Stephanie Amaimo Vice President, Investor
RelationsFortis
Inc.248.946.3572investorrelations@fortisinc.com |
Media Enquiries:Ms. Karen McCarthyVice President, Communications
& Government RelationsFortis
Inc.709.737.5323media@fortisinc.com |
Fortis (NYSE:FTS)
Historical Stock Chart
From Jun 2025 to Jul 2025
Fortis (NYSE:FTS)
Historical Stock Chart
From Jul 2024 to Jul 2025