Fortis reports Q3 profit rise, unveils $32.2 billion five‑year capital plan and 4% dividend increase
Fortis Inc. posted third‑quarter 2026 net earnings of $474 million, or $0.92 per share, up from $0.81 per share a year earlier. The utility announced a new 2027‑2031 capital plan of $32.2 billion, $3.4 billion higher than the prior plan, and raised its fourth‑quarter dividend by 4%. Management said the plan targets a 7.5% compound annual growth rate in the regulated rate base through 2031.
Why it matters
The larger capital plan signals higher future regulated investment, which should support rate‑base growth and sustain dividend increases, as noted by the company. The 4% dividend hike extends the company’s 53‑year streak of dividend raises, reinforcing its income‑focused appeal to investors.
Key facts
- 1Third‑quarter net earnings were $474 million, or $0.92 per common share, up from $0.81 per share in 2025. stocktitan.net
- 2Adjusted net earnings per share were also $0.92, up from $0.87 per share in the third quarter of 2025. stocktitan.net
- 3Capital expenditures through September were $4.2 billion, and capital investment for 2026 is expected to be $6.0 billion. owensoundsuntimes.com
- 4The 2027‑2031 capital plan totals $32.2 billion, $3.4 billion higher than the prior plan. stocktitan.net
- 5The plan is projected to support a 7.5% compound annual growth rate in the regulated rate base. owensoundsuntimes.com
- 6The board increased the fourth‑quarter dividend by 4%. owensoundsuntimes.com
Summary written by AlphAI AI Desk from 9 of 9 sources. Not investment advice. Figures are as stated by the linked sources.