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Last C$39.27 CAD
Change Today +0.26 / 0.67%
Volume 474.3K
FTS On Other Exchanges
As of 4:19 PM 04/17/15 All times are local (Market data is delayed by at least 15 minutes).

fortis inc (FTS) Snapshot

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52 Week High
01/30/15 - C$42.23
52 Week Low
05/30/14 - C$31.26
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fortis inc (FTS) Details

Fortis Inc. operates as an electricity and natural gas distribution utility for residential, commercial, and industrial markets in Canada, the United States, and the Caribbean. The company generates, transmits, and distributes electricity in southeastern Arizona, including the greater Tucson metropolitan area in Pima County, and parts of Cochise County with an aggregate capacity of 2,746 megawatts (MW), including 53 MW of solar capacity; owns minimal gas-fired and hydroelectric generating capacity totalling 64 MW; and sells wholesale electricity to other entities in the western United States. It also owns and operates the electricity distribution system in southern and central Alberta; owns 4 hydroelectric generating facilities with a combined capacity of 225 MW; provides operation, maintenance, and management services to hydroelectric plants; and distributes electricity in the island portion of Newfoundland and Labrador, and Prince Edward Island. In addition, the company generates electricity in Grand Cayman, Cayman Islands; Turks and Caicos Islands; and Belize. Further, the company distributes natural gas in British Columbia, such as Lower Mainland, Vancouver Island, Sunshine Coast, Whistler, and Interior of British Columbia; and Mohave, Yavapai, Coconino, Navajo, and Santa Cruz counties in Arizona. It serves approximately 3 million customers. Additionally, the company operates non-regulated generation assets in Belize, British Columbia, Upstate New York, and Ontario; and owns and operates 23 hotels comprising 4,400 rooms in 8 Canadian provinces, and approximately 2.8 million square feet of commercial office and retail space primarily in Atlantic Canada. Fortis Inc. was founded in 1977 and is headquartered in St. John's, Canada.

10,000 Employees
Last Reported Date: 02/19/15
Founded in 1977

fortis inc (FTS) Top Compensated Officers

Chief Executive Officer and President
Total Annual Compensation: C$737.5K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: C$522.5K
Executive Vice President of Western Canadian ...
Total Annual Compensation: C$581.3K
Executive Vice President of Eastern Canadian ...
Total Annual Compensation: C$465.0K
Total Annual Compensation: C$250.0K
Compensation as of Fiscal Year 2014.

fortis inc (FTS) Key Developments

Fortis Inc. Declares Quarterly Cash Dividend for the First Quarter of 2015, Payable on March 1, 2015

Fortis increased its quarterly common share dividend to 34 cents from 32 cents, commencing with the first quarter dividend payable on March 1, 2015, which translates into an annualized dividend of $1.36.

Fortis Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Capital Expenditure Guidance for the Full Year 2015

Fortis Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported earnings were CAD 113 million, or CAD 0.44 per common share, compared to CAD 100 million, or CAD 0.47 per common share, for the same quarter in 2013. The increase in earnings for the quarter was primarily due to: earnings contribution of CAD 23 million from UNS Energy; higher earnings at FortisAlberta, driven by customer growth and the timing of operating expenses; and higher earnings at the Non-Utility segment, due to higher contribution from Fortis Properties and the impact of a net loss of approximately CAD 2.5 million at Griffith in the fourth quarter of 2013. Fourth quarter results also reflect the continued impact of the 2-year post acquisition rate freeze, as well as higher storm restoration costs and other nonrecurring expenses at Central Hudson. For the year, revenue was CAD 5,401 million against CAD 4,047 million a year ago. Earnings from continuing operations were CAD 385 million or CAD 1.38 diluted per share against CAD 400 million or CAD 1.63 diluted per share a year ago. Earnings before extraordinary item were CAD 390 million against CAD 400 million a year ago. Net earnings attributable to common equity shareholders was CAD 317 million or CAD 1.40 diluted per share compared with CAD 353 million or CAD 1.73 diluted per share for the same period last year. Operating income was CAD 1,023 million compared with CAD 852 million for the same period last year. The increase in revenue was driven by the acquisition of UNS Energy in August 2014 and Central Hudson in June 2013. A higher commodity cost of natural gas charged to customers at the FortisBC Energy companies, an increase in the base component of rates at most of the regulated utilities and higher electricity sales also contributed to the increase in revenue. Cash flow from operating activities was CAD 982 million for 2014 an increase of CAD 83 million from 2013. The increase was driven by higher cash earnings, partially offset by unfavourable changes in working capital and long-term regulatory deferrals. Capital expenditure program reached record CAD 1.7 Billion. For 2015, the company expects capital expenditure program to further grow by nearly 30% to CAD 2.2 billion.

Fortis Mulls Strategic Options

Fortis Inc. (TSX:FTS) reviews strategic options for its hotel and commercial real estate business, operating as Fortis Properties in September 2014. "The strategic review of Fortis Properties continues and we expect to make a decision on the future of this business in the second quarter of 2015," Barry Perry, President and Chief Executive Officer of Fortis, said.


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