Fortis Announces Second Quarter Dividends-2008

03/14/2008 12:09 EST

St. John's, NL – March 14, 2008

FORTIS ANNOUNCES SECOND QUARTER DIVIDENDS – 2008

Today, the Board of Directors of Fortis Inc. (the “Corporation”) (TSX:FTS) has declared the following dividends:

  1. 1. $0.25 per share on the issued and outstanding fully paid Common Shares of the Corporation, payable on June 1, 2008 to the Common Shareholders of Record at the close of business on May 9, 2008;

     

  2. 2. $0.340625 per share on the First Preference Shares, Series “C” of the Corporation, payable on June 1, 2008 to the Shareholders of Record at the close of business on May 9, 2008;

     

  3. 3. $0.3063 per share on the First Preference Shares, Series “E” of the Corporation, payable on June 1, 2008 to the Shareholders of Record at the close of business on May 9, 2008; and,

     

  4. 4. $0.3063 per share on the First Preference Shares, Series “F” of the Corporation, payable on June 1, 2008 to the Shareholders of Record at the close of business on May 9, 2008.

The Corporation has designated the common share dividend and preference share dividends as eligible dividends for federal and provincial dividend tax credit purposes.

Fortis Inc. is the largest investor-owned distribution utility in Canada.  With total assets exceeding $10 billion and annual revenue of more than $2.7 billion, the Corporation serves approximately 2,000,000 gas and electricity customers.  Its regulated holdings include a natural gas utility in British Columbia and electric distribution utilities in five Canadian provinces and three Caribbean countries.  Fortis owns non‑regulated hydroelectric generation assets across Canada and in Belize and Upper New York State.  It also owns hotels and commercial real estate across Canada.  Fortis Inc. shares are listed on the Toronto Stock Exchange and trade under the symbol FTS.  Additional information can be accessed at www.fortisinc.com or www.sedar.com.

 

Fortis Inc. Ms. Donna Hynes Manager, Investor Relations 709-737-2800 709-737-5307 (FAX)

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