FTS.PR.E To Be Redeemed

Fortis Inc. has announced:

Fortis will redeem all of the issued and outstanding First Preference Shares, Series “E” of the Corporation in accordance with their terms on or about 1 September 2016. The redemption price will be $25.3063 in cash for each share, being equal to $25.00 plus $0.3063, representing the amount of the accrued and unpaid dividends per share for the period from and including 1 June 2016 to but not including 1 September 2016. A notice of redemption providing additional details will be mailed to the registered holders of First Preference Shares, Series E on or about 29 July 2016.

FTS.PR.E commenced trading on 2004-7-16 as a 4.9% 12-year Operating Retractible. It is currently redeemable at par and becomes retractible for common shares September 1, 2016 – but that option has now been superseded by the redemption. FTS.PR.E has been tracked by HIMIPref™ since issued and is currently the sole member of the Operating Retractible subindex.

Leave a Reply

You must be logged in to post a comment.