Fortis extends 4%-6% annual dividend growth guidance through 2031
FTS•Fortis unveiled a $32.2 billion capital plan for 2027-2031, up $3.4 billion from its prior plan, and extended its 4%-6% annual dividend growth guidance through 2031. Projected annual rate base growth rose to 7.5%.
1. Capital plan and outlook
Fortis unveiled a $32.2 billion capital plan for 2027-2031, driven by transmission and LNG investments, and extended its annual dividend growth guidance of 4%-6% through 2031. The projected five-year rate base growth rate increased to 7.5% annually, 50 basis points above the prior plan. Fortis raised its 2026 capital spending forecast to $6 billion from $5.6 billion, with $4.2 billion spent through September; it expects funding to comprise 57% cash from operations, 32% net debt and 11% equity.
