Mr. Barry Perry reports

FORTIS INC. ANNOUNCES FOURTH QUARTER DIVIDENDS

The board of directors of Fortis Inc. has declared a common share dividend of 40 cents per share on the issued and outstanding fully paid common shares of the corporation, payable on Dec. 1, 2016, to the common shareholders of record at the close of business on Nov. 18, 2016. The 6.7-per-cent increase in the quarterly common share dividend extends the corporation's record of annual common share dividend payment increases to 43 consecutive years, the longest record of any public company in Canada.

The corporation is targeting average annual dividend per common share growth of approximately 6 per cent through 2021, based on an annualized dividend of $1.60.

"The continuation of our 6-per-cent dividend growth guidance takes into account many factors, including the successful close and integration of the ITC transaction, the expectation of reasonable outcomes for regulatory proceedings at our utilities, and the successful execution of the corporation's five-year capital plan of over $9-billion, excluding ITC Holdings Corp.," said Barry Perry, president and chief executive officer of Fortis. "We also remain optimistic about securing additional growth opportunities in our franchise areas."

The board also announced the following dividends on the corporation's first preference shares:

1. 30.63 cents per share on the first preference shares, Series F, of the corporation, payable on Dec. 1, 2016, to the shareholders of record at the close of business on Nov. 18, 2016;
2. 24.27 cents per share on the first preference shares, Series G, of the corporation, payable on Dec. 1, 2016, to the shareholders of record at the close of business on Nov. 18, 2016;
3. 15.625 cents per share on the first preference shares, Series H, of the corporation, payable on Dec. 1, 2016, to the shareholders of record at the close of business on Nov. 18, 2016;
4. 12.2125 cents per share on the first preference shares, Series I, of the corporation, payable on Dec. 1, 2016, to the shareholders of record at the close of business on Nov. 18, 2016;
5. 29.69 cents per share on the first preference shares, Series J, of the corporation, payable on Dec. 1, 2016, to the shareholders of record at the close of business on Nov. 18, 2016;
6. 25 cents per share on the first preference shares, Series K, of the corporation, payable on Dec. 1, 2016, to the shareholders of record at the close of business on Nov. 18, 2016;
7. 25.625 cents per share on the first preference shares, Series M, of the corporation, payable on Dec. 1, 2016, to the shareholders of record at the close of business on Nov. 18, 2016.

The corporation has designated the common share dividend and preference share dividends as eligible dividends for federal and provincial dividend tax credit purposes.

About Fortis

Fortis is a leader in the North American electric and gas utility business, with total assets of approximately $29-billion and fiscal 2015 revenue of $6.7-billion. The corporation's asset mix is approximately 94 per cent regulated (69 per cent electric and 25 per cent gas), with the remaining 6 per cent comprising non-regulated energy infrastructure. The corporation's regulated utilities serve more than three million customers across Canada, the United States and the Caribbean.

We seek Safe Harbor.