ST. JOHN'S, NEWFOUNDLAND and LABRADOR--(CCNMatthews - Feb. 8, 2007) - The Board of Directors of Fortis Inc. (TSX:FTS) (the "Corporation") has declared a common share dividend of $0.21 per share on the issued and outstanding fully paid Common Shares of the Corporation, payable on June 1, 2007 to the Common Shareholders of Record at the close of business on May 4, 2007. The Corporation has designated the dividend as an eligible dividend for federal and provincial dividend tax credit purposes.
The 10.5 per cent increase in the quarterly common share dividend to $0.21 from $0.19 extends the Corporation's record of annual common share dividend payment increases to 34 consecutive years, the longest record of any public corporation in Canada.
Fortis is principally a diversified, international electric utility holding company with assets exceeding $5.4 billion and annual revenues of approximately $1.5 billion. Fortis has holdings in regulated electric distribution utilities in Alberta, British Columbia, Newfoundland, Ontario, Prince Edward Island, Belize, Grand Cayman and Turks and Caicos Islands. It has non-regulated generation operations in Belize, Ontario, Newfoundland, British Columbia and upper New York State. Fortis also has investments in real estate and hotels through its wholly owned non-utility subsidiary.
The Common Shares, First Preference Shares, Series C; First Preference Shares, Series E; and First Preference Shares, Series F of Fortis are traded on the Toronto Stock Exchange under the symbols FTS, FTS.PR.C, FTS.PR.E and FTS.PR.F, respectively. Fortis information can be accessed at www.fortisinc.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Ms. Donna Hynes
Manager, Investor Relations