St. John’s-based Fortis continues to soar to new heights. The company has reached a billion dollars in earnings, probably the first time a NL-based company has achieved that level.
Barry Perry, the President and CEO of Fortis, says 2017 marked the culmination of a successful five-year period in which Fortis more than doubled its size by acquiring utilities in the United States.
Fortis is the parent company of Newfoundland Power.
Perry says Fortis will continue working toward an average six per cent annual growth of dividends, standing by its prior commitment.
He says they have been acquiring energy utilities in the united States because there aren’t many left in Canada which aren’t owned by government.