Ms. Donna Hynes reports
FORTIS INC. ANNOUNCES THIRD QUARTER DIVIDENDS-2013 AND REDEMPTION OF SERIES "C" FIRST PREFERENCE SHARES
The board of directors of Fortis Inc. has declared the following dividends:
-
30.63 cents per share on the first preference shares, Series E, of the
corporation, payable on Sept. 1, 2013, to the shareholders of record
at the close of business on Aug. 16, 2013;
- 30.63 cents per share on the first preference shares, Series F, of the
corporation, payable on Sept. 1, 2013, to the shareholders of record
at the close of business on Aug. 16, 2013;
- 32.81 cents per share on the first preference shares, Series G, of the
corporation, payable on Sept. 1, 2013, to the shareholders of record
at the close of business on Aug. 16, 2013;
- 26.56 cents per share on the first preference shares, Series H, of the
corporation, payable on Sept. 1, 2013, to the shareholders of record
at the close of business on Aug. 16, 2013;
- 29.69 cents per share on the first preference shares, Series J, of the
corporation, payable on Sept. 1, 2013, to the shareholders of record
at the close of business on Aug. 16, 2013;
- 31 cents per share on the issued and outstanding fully paid common shares
of the corporation, payable on Sept. 1, 2013, to the common
shareholders of record at the close of business on Aug. 16, 2013.
Fortis has designated the common share dividend and preference share dividends as eligible dividends for federal and provincial dividend tax credit purposes.
Redemption of Series C first preference shares
Fortis will redeem all of the issued and outstanding first preference shares, Series C, of the corporation in accordance with their terms on July 10, 2013. The redemption price will be $25.1456 in cash per share, being equal to $25 plus 14.56 cents, representing the amount of accrued and unpaid dividends per share for the period from and including June 1, 2013, to but excluding July 10, 2013. A notice of redemption providing additional details will be mailed to the registered holders of first preference shares, Series C, on or about May 15, 2013. As previously announced, the regular quarterly preferential cash dividend of 34.0625 cents per share will be paid on June 1, 2013, to the holders of first preference shares, Series C, of record as of the close of business on May 17, 2013.
We seek Safe Harbor.
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