ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(CCNMatthews - Sept. 28, 2005) - Today, the Board of Directors of Fortis Inc. (the "Corporation") (TSX:FTS) declared the following dividends:
1. $0.16 per share (equivalent to $0.64 per share on a pre-split basis) on the issued and outstanding fully paid Common Shares of the Corporation, payable on December 1, 2005 to the Common Shareholders of record at the close of business on November 4, 2005. This quarterly common share dividend is an increase of $0.0175 per share (equivalent to $0.07 per share on a pre-split basis.);
2. $0.340625 per share on the Series C First Preference Shares of the Corporation, payable on December 1, 2005 to the Shareholders of record at the close of business on November 4, 2005; and
3. $0.3063 per share on the Series E First Preference Shares of the Corporation, payable on December 1, 2005 to the Shareholders of record at the close of business on November 4, 2005.
Fortis Inc. is a diversified, international electric utility holding company with assets exceeding $4 billion and annual revenues of approximately $1.2 billion. It has holdings in 7 regulated distribution utilities located in Newfoundland, Prince Edward Island, Ontario, Alberta, British Columbia, Belize and the Cayman Islands. It has non-regulated generation operations in Newfoundland, Ontario, British Columbia, upper New York State and Belize. Fortis Inc. has investments in real estate and hotel operations through Fortis Properties Corporation, its wholly owned non-utility subsidiary.
The Common Shares, Series C First Preference Shares and Series E First Preference Shares of Fortis Inc. are traded on the Toronto Stock Exchange under the symbols FTS, FTS.PR.C and FTS.PR.E, respectively. Fortis Inc. information can be accessed at www.fortisinc.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Fortis Inc.
Barry Perry
Vice President Finance and Chief Financial Officer
(709) 737-2800
(709) 737-5307
