Fortis Inc. Announces Third Quarter Dividends-2015

05/06/2015 14:44 EST

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR -

The Board of Directors of Fortis Inc. ("Fortis" or the "Corporation") (TSX:FTS) has declared the following dividends:

  1. $0.3063 per share on the First Preference Shares, Series "E" of the Corporation, payable on 1 September 2015 to the Shareholders of Record at the close of business on 19 August 2015;
  1. $0.3063 per share on the First Preference Shares, Series "F" of the Corporation, payable on 1 September 2015 to the Shareholders of Record at the close of business on 19 August 2015;
  1. $0.2427 per share on the First Preference Shares, Series "G" of the Corporation, payable on 1 September 2015 to the Shareholders of Record at the close of business on 19 August 2015;
  1. $0.15625 per share on the First Preference Shares, Series "H" of the Corporation, payable on 1 September 2015 to the Shareholders of Record at the close of business on 19 August 2015, provided, for greater certainty, that if no such Series "H" shares are outstanding on such date as a result of the exercise by Shareholders of their right to convert Series "H" shares into Cumulative Redeemable Floating Rate First Preference Shares, Series "I" of the Corporation effective 1 June 2015 (the "Conversion Right"), no such dividend shall be payable.
  1. $0.13125 per share on the First Preference Shares, Series "I" of the Corporation, payable on 1 September 2015 to the Shareholders of Record at the close of business on 19 August 2015, provided, for greater certainty, that if no such Series "I" shares are issued on 1 June 2015 pursuant to the Conversion Right, no such dividend shall be payable.
  1. $0.2969 per share on the First Preference Shares, Series "J" of the Corporation, payable on 1 September 2015 to the Shareholders of Record at the close of business on 19 August 2015;
  1. $0.2500 per share on the First Preference Shares, Series "K" of the Corporation, payable on 1 September 2015 to the Shareholders of Record at the close of business on 19 August 2015;
  1. $0.25625 per share on the First Preference Shares, Series "M" of the Corporation, payable on 1 September 2015 to the Shareholders of Record at the close of business on 19 August 2015; and,
  1. $0.34 per share on the issued and outstanding fully paid Common Shares of the Corporation, payable on 1 September 2015 to the Common Shareholders of record at the close of business on 19 August 2015.

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

Fortis Inc. is a leader in the North American electric and gas utility business, with total assets of approximately $28 billion and fiscal 2014 revenue of $5.4 billion. Its regulated utilities account for approximately 93% of total assets and serve more than 3 million customers across Canada and in the United States and the Caribbean. Fortis owns non-regulated hydroelectric generation assets in Canada, Belize and Upstate New York. The Corporation's non-utility investment is comprised of hotels and commercial real estate in Canada.

The Common Shares; First Preference Shares, Series E; First Preference Shares, Series F; First Preference Shares, Series G; First Preference Shares, Series H; First Preference Shares, Series J; First Preference Shares, Series K; and First Preference Shares, Series M of Fortis are listed on the Toronto Stock Exchange and trade under the symbols FTS, FTS.PR.E, FTS.PR.F, FTS.PR.G, FTS.PR.H, FTS.PR.J, FTS.PR.K and FTS.PR.M, respectively. The First Preference Shares, Series I will be listed on the Toronto Stock Exchange the day after the Conversion Date under the symbol FTS.PR.I., subject to the First Preference Shares, Series I being issued on the Conversion Date pursuant to the Conversion Right. Fortis information can be accessed on the Corporation's website at www.fortisinc.com and on SEDAR at www.sedar.com.

Ms. Donna Hynes
Director, Investor & Public Relations
Fortis Inc.
709.737.2800

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