Maurice Choy

Robert Hope

Mark Jarvi

Benjamin Pham

Richard Sunderland

Ben Pham

Jameson Ward

Linda Ezergailis

Patrick Kenny

Ross Fowler

- Fortis Inc. announced the pricing of a private placement offering for **$750 million** aggregate principal amount of **5.100% fixed-to-fixed rate subordinated notes** due **December 4, 2055**.  **[1666175_9d58ce01e43b430ea2d5dfd1e99a47f4_0]** 
- The offering is expected to close on **September 4, 2025**.  **[1666175_9d58ce01e43b430ea2d5dfd1e99a47f4_0]** 
- Fortis expects to use the net proceeds from the offering to **reduce borrowings under its revolving corporate credit facility** and for **general corporate purposes**.  **[1666175_9d58ce01e43b430ea2d5dfd1e99a47f4_0]**

Fortis prices $750 million subordinated notes offering

- Fortis served **3.5 million customers** with **9,800 employees**, was ranked **#1** for corporate governance in Canada, and marked its **51st consecutive dividend increase**.  **[1666175_FTS.TO_3426848_1]** 
- Invested a record **$5.2 billion** in 2024 capital expenditures and unveiled a **$26 billion 5-year capital program**, targeting ~6.5% annual rate base growth to **$53 billion by 2029**.  **[1666175_FTS.TO_3426848_11]** 
- Reported **2024 net earnings of $1.6 billion** (EPS **$3.24**) and **adjusted EPS of $3.28** (+6%); Q1 2025 net earnings were **$499 million** ($1.00/share).  **[1666175_FTS.TO_3426848_11]** 
- Increased dividends to **$2.39/share** (+4%) in 2024 and projected **4–6% annual dividend growth through 2029**.  **[1666175_FTS.TO_3426848_11]** 
- No material near-term impact from proposed tariffs; management emphasizes **rate affordability** and investment flexibility.  **[1666175_FTS.TO_3426848_14]**

Fortis outlines strong 2024 results and $26 billion growth plan

Fortis (FTS)