Business
Fortis Inc. Releases Third Quarter 2025 Results, New Five-Year Capital Outlook and 4% Increase in Fourth Quarter Dividend
This news release constitutes a "Designated News Release" incorporated by reference in the prospe...
About this update from Fortis Inc.
[{"type":"text","content":"Fortis Inc. Releases Third Quarter 2025 Results, New Five-Year Capital Outlook and 4% Increase in Fourth Quarter Dividend\n\n\n\n\n\n This news release constitutes a \"Designated News Release\" incorporated by reference in the prospectus supplement\n \n\n\n\n dated December 9, 2024 to Fortis' short form base shelf prospectus dated December 9, 2024.\n \n\n\n\n ST. JOHN'S, Newfoundland and Labrador, Nov. 04, 2025 (GLOBE NEWSWIRE) -- Fortis Inc. (\"Fortis\" or the \"Corporation\") (TSX/NYSE: FTS), a diversified leader in the North American regulated electric and gas utility industry, released its third quarter results and 2026-2030 outlook\n \n 1\n \n .\n \n\n\n Highlights\n \n\n\n\n Third quarter net earnings of $409 million or $0.81 per common share, compared to $0.85 per common share in 2024\n \n\n Adjusted net earnings per common share\n \n 2\n \n of $0.87, up from $0.85 in the third quarter of 2024\n \n\n Capital expenditures\n \n 2\n \n of $4.2 billion through September; capital investments of $5.6 billion expected for 2025\n \n\n Released 2026-2030 capital plan of $28.8 billion, $2.8 billion higher than prior plan and supporting 7.0% rate base growth\n \n 3\n \n\n\n Increased fourth quarter common share dividend by 4.1% and extended annual dividend growth guidance of 4-6% through 2030\n \n\n Disposition of FortisTCI closed in September 2025 and sale of Belize assets closed in October 2025\n \n\n\n\n\n \"During the third quarter, our utilities delivered earnings growth and executed capital investments in line with expectations,\" said David Hutchens, President and Chief Executive Officer, Fortis. \"Today we are pleased to unveil our largest five-year capital plan of $28.8 billion, an increase of $2.8 billion over our prior plan. The increase is driven by higher transmission investments at ITC, as well as customer growth and reliability investments across our utilities. We remain focused on low-risk, regulated utility growth, and our recent decisions to sell assets further support our funding plan and strengthen the balance sheet. Our highly executable capital plan extends our robust rate base growth and supports annual dividend growth of 4-6% through 2030 for shareholders.\"\n \n\n\n Net Earnings\n \n\n The Corporation reported net earnings attributable to common equity shareholders (\"Net Earnings\") of $409 m...