Key Developments: Fortis Inc (FRTSF.PK)
32.65USD
1:53pm EDT
$-0.45 (-1.37%)
$33.10
$33.02
$33.02
$32.65
500
4,423
$35.06
$31.28
Latest Key Developments (Source: Significant Developments)
Fortis Inc Announces Third Quarter Dividends
Fortis Inc announced that Board of Directors has declared the following dividends; $0.3063 per share on the First Preference Shares, Series "E" of the Corporation, payable on 1 September 2013 to the Shareholders of Record at the close of business on 16 August 2013; $0.3063 per share on the First Preference Shares, Series "F" of the Corporation, payable on 1 September 2013 to the Shareholders of Record at the close of business on 16 August 2013; $0.3281 per share on the First Preference Shares, Series "G" of the Corporation, payable on 1 September 2013 to the Shareholders of Record at the close of business on 16 August 2013; $0.2656 per share on the First Preference Shares, Series "H" of the Corporation, payable on 1 September 2013 to the Shareholders of Record at the close of business on 16 August 2013; $0.2969 per share on the First Preference Shares, Series "J" of the Corporation, payable on 1 September 2013 to the Shareholders of Record at the close of business on 16 August 2013; and, $0.31 per share on the issued and outstanding fully paid Common Shares of the Corporation, payable on 1 September 2013 to the Common Shareholders of record at the close of business on August 16, 2013. Full Article
Fortis Inc Announces Second Quarter Dividends
Fortis Inc announced that it declared the following dividends: $0.340625 per share on the First Preference Shares, Series C of the Corporation, payable on 1 June 2013 to the Shareholders of Record at the close of business on 17 May 2013; 2. $0.3063 per share on the First Preference Shares, Series E of the Corporation, payable on 1 June 2013 to the Shareholders of Record at the close of business on 17 May 2013; 3. $0.3063 per share on the First Preference Shares, Series F of the Corporation, payable on 1 June 2013 to the Shareholders of Record at the close of business on 17 May 2013; 4. $0.3281 per share on the First Preference Shares, Series "G" of the Corporation, payable on 1 June 2013 to the Shareholders of Record at the close of business on 17 May 2013; 5. $0.2656 per share on the First Preference Shares, Series H of the Corporation, payable on 1 June 2013 to the Shareholders of Record at the close of business on 17 May 2013; 6. $0.2969 per share on the First Preference Shares, Series J of the Corporation, payable on 1 June 2013 to the Shareholders of Record at the close of business on 17 May 2013; and, 7. $0.31 per share on the issued and outstanding fully paid Common Shares of the Corporation, payable on 1 June 2013 to the Common Shareholders of record at the close of business on 17 May 2013. Full Article
Fortis Inc Announces First Quarter Dividends-2013
Fortis Inc announced that it has declared a common share dividend of $0.31 per share on the issued and outstanding fully paid Common Shares of the Corporation, payable on March 1, 2013 to the Common Shareholders of Record at the close of business on February 14, 2013. The 3.3% increase in the quarterly common share dividend to $0.31 from $0.30. The Company also declared the dividends on First Preference Shares: $0.340625 per share on the First Preference Shares, Series C of the Corporation, payable on March 1, 2013 to the Shareholders of Record at the close of business on February 14, 2013; $0.3063 per share on the First Preference Shares, Series E of the Corporation, payable on March 1, 2013 to the Shareholders of Record at the close of business on February 14, 2013; $0.3063 per share on First Preference Shares, Series F of the Corporation, payable on March 1, 2013 to the Shareholders of Record at the close of business on February 14, 2013; $0.3281 per share on First Preference Shares, Series G of the Corporation, payable on March 1, 2013 to the Shareholders of Record at the close of business on February 14, 2013; $0.2656 per share on First Preference Shares, Series H of the Corporation, payable on March 1, 2013 to the Shareholders of Record at the close of business on February 14, 2013; and $0.35137 per share on First Preference Shares, Series J of the Corporation, payable on March 1, 2013 to the Shareholders of Record at the close of business on February 14, 2013. Full Article
Fortis Inc Closes $200,000,000 Preference Share Offering
Fortis Inc announced that it has closed its public offering of Cumulative Redeemable First Preference Shares, Series J underwritten by a syndicate of underwriters led by BMO Capital Markets and RBC Capital Markets. Fortis issued 8,000,000 Series J First Preference Shares at a price of $25.00 per share for aggregate gross proceeds to the Corporation of $200,000,000. The net proceeds from the Offering will be used towards repaying borrowings under the Corporation's $1 billion committed corporate credit facility, which borrowings were primarily incurred to support the construction of the non-regulated Waneta Expansion hydroelectric generating facility and for other general corporate purposes. Full Article
Fortis Inc Increases Preference Share Offering To $200 Million
Fortis Inc announced that, in connection with its recently announced public offering of 6,000,000 Cumulative Redeemable First Preference Shares, Series J (the "Preference Shares"), the syndicate of underwriters led by BMO Capital Markets and RBC Capital Markets has exercised its option (the "Underwriters' Option") to purchase an additional 2,000,000 Preference Shares at a price of $25.00 per Preference Share. Fortis will receive additional gross proceeds of $50 million from the exercise of the Underwriters' Option, increasing the aggregate gross proceeds of the offering to $200 million. Full Article
Fortis Inc Announces Fourth Quarter Dividends 2012
Fortis Inc announced that it has declared the following dividends: 1. $0.340625 per share on the First Preference Shares, Series C of the Corporation, payable on December 1, 2012 to the Shareholders of Record at the close of business on November 16, 2012; 2. $0.3063 per share on the First Preference Shares, Series E of the Corporation, payable on December 1, 2012 to the Shareholders of Record at the close of business on November 16, 2012; 3. $0.3063 per share on the First Preference Shares, Series F of the Corporation, payable on December 1, 2012 to the Shareholders of Record at the close of business on November 16, 2012; 4. $0.3281 per share on the First Preference Shares, Series G of the Corporation, payable on December 1, 2012 to the Shareholders of Record at the close of business on 16 November 2012; 5. $0.2656 per share on the First Preference Shares, Series H of the Corporation, payable on 1 December 2012 to the Shareholders of Record at the close of business on 16 November 2012; and, 6. $0.30 per share on the issued and outstanding fully paid Common Shares of the Corporation, payable on 1 December 2012 to the Common Shareholders of Record at the close of business on November 16, 2012. Full Article
Fortis Incorporated Announces Closing Of Subscription Receipts Offering
Fortis Incorporated announced that it has closed its bought deal offering of Subscription Receipts underwritten by a syndicate of underwriters led by CIBC World Markets Inc., Scotia Capital Inc. and TD Securities Inc. Fortis entered into an agreement, on June 20, 2012, with the Underwriters under which the Underwriters agreed to purchase from Fortis and sell to the public 18,500,000 Subscription Receipts at $32.50 each for gross proceeds to the Corporation of $601,250,000. The net proceeds of the Offering will be used, subsequent to receipt of all required approvals and satisfaction of closing conditions, to finance a portion of the purchase price of the previously announced acquisition of CH Energy Group, Inc. The acquisition is expected to close by the end of the first quarter of 2013. The gross proceeds of the Offering will be held by an escrow agent pending satisfaction of the Release Conditions. Each Subscription Receipt will entitle the holder to receive, on satisfaction of the Release Conditions and without payment of additional consideration, one common share of Fortis and a cash payment equal to the dividends declared on Fortis common shares to holders of record during the period from today to the date of issuance of the common shares in respect of the Subscription Receipts. Full Article
Fortis Incorporated Announces Third Quarter Dividends 2012
Fortis Incorporated announced that its Board of Directors has declared the following dividends: $0.340625 per share on the First Preference Shares, Series "C" of the Corporation, payable on September 1, 2012 to the Shareholders of Record at the close of business on August 17, 2012; $0.3063 per share on the First Preference Shares, Series "E" of the Corporation, payable on September 1, 2012 to the Shareholders of Record at the close of business on August 17, 2012; $0.3063 per share on the First Preference Shares, Series "F" of the Corporation, payable on September 1, 2012 to the Shareholders of Record at the close of business on August 17, 2012; $0.3281 per share on the First Preference Shares, Series "G" of the Corporation, payable on September 1, 2012 to the Shareholders of Record at the close of business on August 17, 2012; $0.2656 per share on the First Preference Shares, Series "H" of the Corporation, payable on September 1, 2012 to the Shareholders of Record at the close of business on August 17, 2012; and, $0.30 per share on the issued and outstanding fully paid Common Shares of the Corporation, payable on September 1, 2012 to the Common Shareholders of Record at the close of business on August 17, 2012. Full Article
Fortis Incorporated Announces Second Quarter Dividends 2012
Fortis Incorporated announced that the Board of Directors has declared the following dividends: $0.340625 per share on the First Preference Shares, Series C of the Corporation, payable on June 1, 2012 to the Shareholders of Record at the close of business on May 17, 2012; $0.3063 per share on the First Preference Shares, Series E of the Corporation, payable on June 1, 2012 to the Shareholders of Record at the close of business on May 17, 2012; $0.3063 per share on the First Preference Shares, Series F of the Corporation, payable on June 1, 2012 to the Shareholders of Record at the close of business on May 17, 2012; $0.3281 per share on the First Preference Shares, Series G of the Corporation, payable on June 1, 2012 to the Shareholders of Record at the close of business on May 17, 2012; $0.2656 per share on the First Preference Shares, Series H of the Corporation, payable on June 1, 2012 to the Shareholders of Record at the close of business on May 17, 2012; and $0.30 per share on the issued and outstanding fully paid Common Shares of the Corporation, payable on June 1, 2012 to the Common Shareholders of Record at the close of business on May 17, 2012. Full Article
Fortis Incorporated To Acquire CH Energy Group, Inc. For $1.5 Billion
Fortis Incorporated announced that it has entered into an agreement to acquire CH Energy Group, Inc. (CH Energy Group) for $65.00 per common share in cash, for an aggregate purchase price of approximately $1.5 billion, including the assumption of approximately $500 million of debt on closing. The purchase price represents an approximate 10.5% premium above the most recent closing price of CH Energy Group common shares. The closing of the Acquisition, which is expected to occur within 12 months, is subject to receipt of CH Energy Group common shareholder approval; regulatory and other approvals, including those of the New York Public Service Commission (NYPSC) and the Federal Energy Regulatory Commission, and to the expiration of the waiting period under the Hart-Scott-Rodino Act; and the satisfaction of customary closing conditions. Legal and financial advisors to Fortis were White & Case LLP and Bank of America Merrill Lynch, respectively. Full Article
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