Fortis Inc.(FRTSF)- OTCPK - Current
  • Fri, Jul. 29, 9:22 AM
    | Fri, Jul. 29, 9:22 AM
  • Thu, Jul. 28, 5:58 PM
    | Thu, Jul. 28, 5:58 PM
  • Tue, May 3, 6:40 AM
    | Tue, May 3, 6:40 AM
  • Wed, Apr. 20, 1:54 PM
    • Singapore’s GIC sovereign wealth fund agrees to acquire 19.9% of ITC Holdings from Fortis (OTCPK:FRTSF) for $1.23B, in one of the biggest investments Asian companies have made in U.S. power lines operators.
    • Fortis, Canada’s largest utility owner, agreed in February to buy ITC for $6.9B in cash and stock, and CEO Barry Perry says today's deal accomplishes most of the “heavy lifting” on the financing, adding that the deal allows it to keep an investment-grade credit rating.
    • The price meets expectations, enabling Fortis to proceed with a plan to issue $2B of debt to complete the ITC takeover, according to a Bloomberg analyst.
    | Wed, Apr. 20, 1:54 PM
  • Thu, Feb. 25, 9:14 AM
    • Cleco (NYSE:CNL) -2.7% premarket, on top of yesterday's 9.4% plunge, after Louisiana's Public Service Commission rejected a $4.9B proposed takeover by a Macquarie-led (OTC:MCQEF) investor group, saying the deal was not in the best interest of customers.
    • Among their objections, commissioners cited the purchase by Australian and Canadian investors who planned to sell the utility in 8-10 years, and the “double leverage” method of financing the transaction that left open the possibility that CNL customers could be on the hook for the debt.
    • The rejection comes as foreign buyers including Fortis (OTCPK:FRTSF) and Emera (OTCPK:EMRAF) are seeking approval to take over U.S. power companies, and the CNL ruling may hurt the chances of future acquisitions by non-U.S. companies.
    • Shares are downgraded to Sell from Neutral at Ladenburg Thalmann on the news.
    | Thu, Feb. 25, 9:14 AM | 10 Comments
  • Thu, Feb. 18, 6:45 AM
    • Fortis (OTCPK:FRTSF): Q4 EPS of $0.48
    • Revenue of $1.7B (+0.6% Y/Y)
    | Thu, Feb. 18, 6:45 AM
  • Wed, Feb. 17, 11:57 AM
    • Fortis (OTCPK:FRTSF) declares C$0.375/share quarterly dividend, in line with previous.
    • Forward yield 4.11%
    • Payable June 1; for shareholders of record May 18; ex-div May 16.
    | Wed, Feb. 17, 11:57 AM
  • Tue, Feb. 9, 7:33 AM
    • Canadian utility operator Fortis (OTCPK:FRTSF) agrees to acquire U.S. electricity transmission company ITC Holdings (NYSE:ITC) for ~$6.9B in cash and stock; Fortis also will assume ~$4.4B in ITC debt.
    • ITC shareholders will receive $22.57 in cash and 0.752 Fortis shares for each ITC share; based on Monday's closing price, the deal values ITC at ~$44.90/share, a 14% premium.
    • The deal will boost Fortis' exposure to regulated power markets, which have stable power prices; falling electricity demand due to increased energy efficiency has prompted utilities to cut their exposure to volatile power prices in unregulated markets.
    • Fortis says it will apply for a listing on the NYSE and will keep its shares listed on the Toronto Stock Exchange.
    | Tue, Feb. 9, 7:33 AM | 5 Comments
  • Dec. 17, 2015, 5:36 AM
    • Fortis (OTCPK:FRTSF) declares C$0.375/share quarterly dividend, in line with previous.
    • Forward yield 4.01%
    • Payable March 1; for shareholders of record Feb. 17; ex-div Feb. 12.
    | Dec. 17, 2015, 5:36 AM | 4 Comments
  • Sep. 29, 2015, 5:49 PM
    • Fortis (OTCPK:FRTSF) declares C$0.375/share quarterly dividend.
    • Forward yield 4.14%
    • Payable Dec. 1; for shareholders of record Nov. 18; ex-div Nov. 16.
    | Sep. 29, 2015, 5:49 PM | 3 Comments
  • Dec. 17, 2014, 12:13 PM
    • Fortis (OTCPK:FRTSF) declares C$0.34/share quarterly dividend, 6.3% increase from prior dividend of $0.32.
    • Forward yield 3.58%
    • Payable March 1; for shareholders of record Feb. 17; ex-div Feb. 12.
    | Dec. 17, 2014, 12:13 PM
  • Sep. 5, 2014, 5:55 PM
    • Fortis (OTCPK:FRTSF) is expected to beat out the various liquefied natural gas consortiums considering investments on Canada's west Coast and start supplying LNG to Hawaiian Electric (NYSE:HE) under a 15-year agreement starting mid-2017, subject to regulatory approvals.
    • Fortis plans to use its Tilbury Island LNG facility in Delta, B.C., which is in the midst of a $400M expansion to boost output and storage facilities.
    • While small, the Hawaii deal underscores the breadth of possibilities and untapped markets for Canadian natural gas, Financial Post reports.
    | Sep. 5, 2014, 5:55 PM
  • May 13, 2014, 10:35 AM
    • Fortis Inc. (FRTSF) declares $0.32/share quarterly dividend, in line with previous.
    • Payable Sept. 1; for shareholders of record Aug. 15; ex-div Aug. 13.
    | May 13, 2014, 10:35 AM
  • Mar. 13, 2014, 9:47 AM
    • Fortis Inc. (FRTSF) declares $0.32/share quarterly dividend, in line with prior.
    • Payable June 1; for shareholders of record May 16; ex-div May 14.
    | Mar. 13, 2014, 9:47 AM
  • Dec. 11, 2013, 4:48 PM
    • UNS Energy (UNS) agrees to be acquired by Fortis (FRTSF), Canada's largest investor-owned gas and electric distribution utility, for $60.25/share, a 31% premium to today's closing price.
    • The $4.3B deal, which includes the assumption of ~$1.8B in debt, would provide additional capital and new resources for UNS subsidiaries including Tucson Electric Power and UniSource Energy Services.
    • Fortis serves more than 2.4M through its electric utilities in five Canadian provinces and two Caribbean countries, a natural gas company in British Columbia, and a gas and electric utility in New York.
    • UNS +30.2% AH.
    | Dec. 11, 2013, 4:48 PM | 1 Comment
Company Description
Fortis, Inc. holds investments in several electric distribution utilities located in Canada, Belize, and the Cayman Islands. The Company also has subsidiaries involved in electricity generation in New York State and Belize. In addition, Fortis, through its non-utility subsidiary, has investments... More
Sector: Utilities
Industry: Water Utilities
Country: Canada