OTTAWA (dpa-AFX) - Fortis Inc. (FTS, FTS.TO) announced its 2024-2028 capital
plan of C$25.0 billion. The five-year capital plan is expected to increase
midyear rate base from C$36.8 billion in 2023 to C$49.4 billion by 2028,
translating into a five-year compound annual growth rate of 6.3% on a constant
foreign exchange basis. Fortis noted that its new capital plan is C$2.7 billion
higher than the previous five-year plan.

Fortis stated that approximately 27% of the five-year capital plan is allocated
to cleaner energy investments focused on connecting renewables to the grid,
renewable and storage investments in Arizona and the Caribbean, and cleaner fuel
solutions in British Columbia.

The Board of Fortis declared a common share dividend of C$0.59 per share on the
issued and outstanding fully paid common shares of the Corporation, representing
an approximate 4.4% increase in the quarterly dividend, payable on December 1,
2023 to the common shareholders of record at the close of business on November
17, 2023. The Corporation's annual dividend growth guidance of 4-6% has been
extended one year through 2028.



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