ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(CCNMatthews - Sept. 28, 2006) - The Board of Directors of Fortis Inc. (the "Corporation") (TSX:FTS) has declared a common share dividend of $0.19 per share on the issued and outstanding fully paid Common Shares of the Corporation, payable on December 1, 2006 to the Common Shareholders of Record at the close of business on November 3, 2006.
The 18.75 per cent increase in the quarterly common share dividend to $0.19 from $0.16 extends the Corporation's record of annual common share dividend payment increases to 33 consecutive years, the longest record of any public corporation in Canada.
Fortis is a diversified, international electric utility holding company with assets approaching $4.5 billion and annual revenues of more than $1.4 billion. Fortis has holdings in regulated electric distribution utilities in British Columbia, Alberta, Ontario, Prince Edward Island, Newfoundland, Belize, Grand Cayman, and the Turks and Caicos Islands. It has non-regulated generation operations in British Columbia, Ontario, central Newfoundland, upper New York State and Belize. Fortis also has investments in real estate and hotels through Fortis Properties Corporation, its wholly owned non-utility subsidiary.
The Common Shares, First Preference Shares, Series C and First Preference Shares, Series E of Fortis are traded on the Toronto Stock Exchange under the symbols FTS, FTS.PR.C and FTS.PR.E, respectively. Fortis information can be accessed at www.fortisinc.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Ms. Donna Hynes
Manager, Investor Relations