The Financial Post reports in its Tuesday edition that Fortis closed its largest acquisition on Aug. 15, a $4.5-billion (U.S.) purchase of UNS Energy, earlier than expected. The Post's Barry Critchley writes that the purchase should have been good news for holders of instalment receipts which agreed to ante up $1.8-billion (U.S.) in the form of convertible debentures with 33 per cent of that payment due when the acquisition closed. Investors put up one-third last January. The receipts are up about 30 per cent and receipt holders have received two interest payments. The receipts are convertible at a discount to the current trading price of the common shares. The Post notes the receipts have not done as well as they could have had Fortis followed its usual practice for the setting of the record date for its common shares. The record date is the date established for the purpose of determining the holders who are to receive a dividend or distribution. Last week Fortis set Oct. 24 as the record date for the payment of its fourth quarter dividend. Mr. Critchley says if Fortis set the record date as it has in the past, then the convert holders would have received a dividend payment of 32 cents a share.