4-6%
Annual dividend growth
guidance through 2030
7.0%
5-Year Rate Base CAGR
$28.8B
2026-2030 Capital Plan
Average Annual Total Shareholder Returns
Total Shareholder Returns
| 1-Year | 23.9% |
| 5-Year | 10.7% |
| 10-Year | 10.8% |
| 20-Year | 9.5% |
Our Value Proposition
52 Years of Consecutive Dividend Increases
Year
Why Invest?
A Premium North American Utility
Delivering Low-Risk, Highly Executable Growth
Fortis has nine regulated utilities in Canada, the U.S., and the Caribbean.
Our 9,900 employees serve 3.5 million electricity and natural gas customers.
Our regulated growth strategy is focused on providing safe, reliable and affordable service to our customers while supporting annual dividend growth
of 4-6% through 2030.
Low-Risk
Safe, Well-Run Utilities
Strong Governance
Regulatory & Geographic Diversity
Constructive Regulatory Relationships
Local Business Model
100% Regulated
Primarily Transmission & Distribution Assets
Sustainable Growth
Focused on Execution
Strong Rate Base Growth
Robust Transmission Investment Pipeline
Transparent Funding Plan
Cleaner Energy Transition
4-6% Annual Dividend Growth Through 2030
Investment-Grade Credit Ratings
Cumulative 20-Year Total
Shareholder Return
Fortis has yielded a total annualized shareholder return of 9.5% over 20 years, or 517% in total.
Note: Cumulative 20-year total shareholder return as at December 31, 2025.
As at December 31, 2025
Financial Highlights
| $ millions, except as indicated | 2025 | 2024 | Variance |
|---|---|---|---|
| Common Equity Earnings | |||
| Actual | 1,714 | 1,606 | 108 |
| Adjusted (1) | 1,777 | 1,626 | 151 |
| Basic EPS ($) | |||
| Actual | 3.40 | 3.24 | 0.16 |
| Adjusted (1) | 3.53 | 3.28 | 0.25 |
| Dividends | |||
| Paid per common share ($) | 2.49 | 2.39 | 0.10 |
| Actual Payout Ratio (%) | 73.1 | 73.6 | (0.5) |
| Adjusted Payout Ratio (%) (1) | 70.4 | 72.7 | (2.3) |
| Weighted average number of common shares outstanding (# millions) | 503.5 | 495 | 8.5 |
| Operating Cash Flow | 4,062 | 3,882 | 180 |
| Capital expenditures (1) | 5,614 | 5.247 | 367 |
(1) Non-GAAP financial measure as disclosed in the Corporation's Annual Management Discussion and Analysis