Fortis Announces Record $26 Billion Capital Plan

Fortis (TSE:FTS) has released an update.

Fortis Inc. has unveiled its largest five-year capital plan yet, totaling $26 billion, aiming for a 6.5% annual rate base growth through 2029, fueled by significant transmission and customer growth investments. The plan includes a 4.2% increase in the fourth quarter dividend, continuing a 51-year streak of dividend growth, with guidance for 4-6% annual dividend growth through 2029. Funding for the plan will primarily come from operations and regulated debt, with additional support from equity programs.

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