Preferred Stock Channel
Fortis Inc | First Preference Shares, Series F (FTS.PRF.CA)

Prospectus excerpt:  This short form prospectus (the ‘‘Prospectus’’) qualifies for distribution 5,000,000 Cumulative Redeemable First Preference Shares, Series F (the ‘‘Series F First Preference Shares’’) of Fortis Inc. (‘‘Fortis’’ or the ‘‘Corporation’’) which are being offered and sold pursuant to the provisions of an underwriting agreement (the ‘‘Underwriting Agreement’’) dated September 13, 2006 between Fortis and BMO Nesbitt Burns Inc. (‘‘BMO Nesbitt Burns’’), CIBC World Markets Inc. (‘‘CIBCWM’’), RBC Dominion Securities Inc. (‘‘RBCDS’’), Scotia Capital Inc. (‘‘Scotia Capital’’), HSBC Securities (Canada) Inc. (‘‘HSBC Securities’’), National Bank Financial Inc. (‘‘NB Financial’’), TD Securities Inc. (‘‘TD Securities’’), Beacon Securities Limited and Canaccord Capital Corporation (collectively, the ‘‘Underwriters’’). The Series F First Preference Shares will be issued and sold by Fortis to the Underwriters at the price of $25.00 (the ‘‘Offering Price’’) per Series F First Preference Share. The Offering Price was determined by negotiation between the Corporation and the Underwriters.

The Series F First Preference Shares of the Corporation will be entitled to fixed cumulative preferential cash dividends, if, as and when declared by the board of directors of the Corporation at a rate of $1.2250 per share per annum, to accrue from the date of original issue, payable in equal quarterly installments of $0.3063 per share on the first day of March, June, September and December of each year. Assuming an issue date of September 28, 2006 the first dividend will be payable as of December 1, 2006 in the amount of $0.2148 per Series F First Preference Share.

Full Prospectus PDF », FTS.CA Page »

Series:F
Alternate symbology:FTS-F.CA, FTS-PF.CA, FTSprF.CA
Redeemable?:Yes
Call Date:12/1/2015 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:5000000
Liquidation Preference:$25
Recent Market Price:$20.37
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-4.63 (-18.52%)
Annualized Dividend:1.2252
Recent Ex-Date:5/14/2020
Current Yield:6.01%
Original Coupon:4.90%
Pay Period:Quarterly
Pay Dates:1-Mar, 1-Jun, 1-Sep, 1-Dec
Fortis is principally an international electric and gas utility holding company. Co. also holds investments in non-regulated generation assets. Co.'s business segments are: Regulated Electric & Gas Utilities - United States; Regulated Gas Utility - Canadian; Regulated Electric Utilities - Canadian; Regulated Electric Utilities - Caribbean; Non-Regulated - Fortis Generation; Non-regulated - Non-Utility; and Corporate and Other. Its regulated utilities served more than 3.0 million customers across Canada and in New York State and the Caribbean. Co. also holds investments in non-regulated generation assets in Canada and Belize, through Fortis Generation.

Preferreds: FTS.PRC.CA, FTS.PRE.CA, FTS.PRF.CA, FTS.PRG.CA, FTS.PRH.CA, FTS.PRJ.CA


Open the FTS.CA Information Page »
Name:  Fortis Inc
Website:  www.fortisinc.com
Sector:  Electric Utilities
Number of ETFs Holding FTS.CA:  6 (see which ones)
Total Market Value Held by ETFs:  $32,015,801
Total Market Capitalization:  $6,299,000,000
% of Market Cap. Held by ETFs:  0.51%

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