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  • Q: What is the ticker symbol for Fortis common shares?
  • A: The ticker symbol for Fortis common shares on the TSX and the NYSE is FTS.
  • Q: Where are Fortis’ common shares listed for trading?
  • A: Fortis common shares are listed for trading on the TSX and the NYSE. More information is available on our Share Information page of this website.
  • Q: Does Fortis pay a dividend on its common shares?
  • A: Fortis has a strong track record of dividend payment. Fortis has increased its dividend payment to common shareholders every year for 43 consecutive years.
  • Q: Where can I find Fortis historical dividend information?
  • A: Information about dividends going back to 1972 is available on the Dividends page of this website.
  • Q: Does Fortis offer a dividend reinvestment plan?
  • A: Fortis Inc. offers a Dividend Reinvestment Plan (“DRIP”) to common shareholders as a convenient method of increasing their investments in the Corporation. The DRIP offers a 2% discount on the purchase of common shares, issued from treasury, with the reinvested dividends. More information is available, along with an application to participate, on the Share Plan page of this website.
  • Q: What is the difference between registered and non-registered share ownership?
  • A: Registered share owners hold shares directly and may even have a physical share certificate. Non-registered ownership is much more common. Non-registered share owners hold their shares in an account at a financial services firm such as a bank, insurance company, brokerage firm or credit union.
  • Q: Does Fortis issue preferred shares?
  • A: Fortis has several series of preferred shares outstanding. More information is available on the Preference Shares page of this website.
  • Q: What are the credit quality ratings on Fortis debt?
  • A: Fortis debt is rated BBB+ with a stable outlook by S&P; BBB (high) with a stable outlook from DBRS; and Baa3 with a stable outlook from Moody's.
  • Q: Where can I get historical financial information about Fortis?
  • A: Past annual and quarterly reports are available on the Financial and Regulatory Reports page of this website.
  • Q: Where can I learn more about Fortis companies?
  • A: Each of the companies has its own website. You can access them through the Our Companies section of this website.
  • Q: How can I get email alerts about Fortis?
  • A: You can sign up to get regular news alerts from Fortis by visiting the Email News Alerts page of this website and entering your name and email address.
  • Q: How can I get more information about Fortis?
  • A: You can request specific information by visiting the Request Information page of this website.
  • Q: What are the U.S. federal and Canadian federal income tax consequences of the exchange of my common stock of ITC Holdings for common shares of Fortis Inc. in the merger of Fortis and ITC (the "Merger") on October 14, 2016?
  • A: The following information is meant to be a general guide but not meant to be construed as legal or tax advice.  We strongly encourage you to contact your advisors to get an assessment of your particular situation.

    U.S. and Canadian tax disclosure in respect of the disposition of common stock of ITC in the Merger was provided in the Registration Statement filed on March 17, 2016 which can accessed at: https://www.sec.gov/Archives/edgar/data/1666175/000104746916011289/a2227566zf-4.htm.  

    Former Shareholders of ITC who are individual citizens or resident aliens of the United States (“U.S. Holders”)

    The material U.S. federal income tax consequences to U.S. Holders of disposing of common stock of ITC in the Merger can be found starting at page 123 of the Registration Statement under the heading "Certain United States Federal Income Tax Consequences of the Merger" (the "U.S. Tax Disclosure").

    The following is a general description of the intended U.S. federal income tax consequences of the Merger for the former beneficial owners of ITC common stock who are U.S. Holders (as defined above) and that held the ITC common stock as capital assets.  The following is qualified in its entirety by the U.S. Tax Disclosure, including the limitations and assumptions set out therein. 

    Was the transaction a taxable transaction?

    Yes, the Merger was a taxable transaction for U.S. Holders. 

    A U.S. Holder of ITC common stock will have recognized gain or loss in an amount equal to the difference, if any, between (i) the sum of the fair market value of the Fortis common shares (as of the effective time of the Merger) and the cash received by the U.S. Holder in the Merger, and (ii) the U.S. Holder's adjusted tax basis in the ITC common stock exchanged in the Merger.  See comments below in respect of determining the fair market value of the Fortis common shares at the Merger effective time.

    What if I acquired blocks of ITC common stock at different times or at different prices?

    If a U.S. Holder acquired different blocks of ITC common stock at different times or at different prices, any gain or loss would be determined separately with respect to each block of ITC common stock, and the cash and Fortis common shares received in the Merger would be allocated pro rata to each such block of stock.

    What is my tax basis in the Fortis common shares?

    A U.S. Holder's tax basis in Fortis common shares received in the Merger will equal their fair market value as of the effective time of the Merger.  

    What was the fair market value of the Fortis common shares at the Merger Effective Time?

    U.S. federal income tax law does not specifically identify how one determines the fair market value of the Fortis common shares that you received in the Merger.  Alternative methods to determine fair market value include using, among others, the trading prices on the day immediately prior to the Merger, the trading prices on the day of the Merger (October 14, 2016) or a weighted average of the trading prices over a number of days.  Since the Fortis common shares only began trading on the NYSE on October 14, 2016, U.S. Holders may determine to use the trading prices of the Fortis common shares on this day or the average of the trading prices over a number of days beginning with October 14, 2016 to determine the fair market value of the Fortis common shares at the time of the Merger.

    For purposes of broker reporting, it is expected that the exchange agent will use the average of the high and low trading prices of the Fortis common shares on the NYSE on October 14, 2016 (being USD $31.515). 

    Former shareholders of ITC who are residents in Canada (“Canadian Holders”)

    The material Canadian federal income tax consequences to Canadian Holders of disposing of ITC common stock in the Merger can be found starting at page 129 of the Registration Statement under the heading "Certain Canadian Federal Income Tax Consequences of the Merger" (the "Canadian Tax Disclosure"). 

    The following is a general description of the intended Canadian federal income tax consequences of the Merger for the former beneficial owners of ITC common stock who are Canadian Holders (as defined above) and that held the ITC common stock as capital property.  The following is qualified in its entirety by the Canadian Tax Disclosure, including the limitations and assumptions set out therein. 

    Was the Merger a taxable transaction to Canadian Holders?

    Yes, the Merger was a taxable transaction to Canadian Holders.

    Canadian Holders generally realized a capital gain (or capital loss) on the disposition of their ITC common stock equal to the amount, if any, by which the sum of the fair market value of the Fortis common shares and the cash received in exchange for such Canadian Holders’ ITC common stock, net of any reasonable costs of disposition, exceed (or are less than) the tax cost to such Canadian Holders of their ITC common stock immediately before the disposition. See comments below in respect of determining the fair market value of the Fortis common shares at the Merger effective time.

    What is my tax cost of the Fortis common shares?

    The cost to a Canadian Holder of the Fortis common shares received by that Canadian Holder in the Merger is equal to their fair market value at the time they were acquired by such Canadian Holder. For purposes of determining the adjusted cost base to a Canadian Holder of the Fortis common shares, the cost of the Fortis common shares received must be averaged with the adjusted cost base of all other Fortis common shares held by the Canadian Holder as capital property.

    What was the fair market value of the Fortis common shares at the Merger Effective Time?

    The Canada Revenue Agency has no published guidance that would be of assistance in determining the fair market value of the Fortis common shares in this context.  As such, a reasonable estimate of the fair market value of each Fortis common share could be made by reference to their trading price on the Toronto Stock Exchange.   Alternative methods to determine fair market value include using, among others, the trading prices on the day immediately prior to the Merger, the trading prices on the day of the Merger (October 14, 2016) or a weighted average of the trading prices over a number of days.

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