TORONTO, May 9, 2019 /CNW/ - Hydro One Limited (TSX: H), announced that its Board of Directors has approved a 5% common share dividend increase, and declared a quarterly cash dividend to common shareholders at the new rate of $0.2415 per share to be paid on June 28, 2019 to shareholders of record on June 12, 2019.
"We recognize the dividend plays an important part in delivering value to our shareholders," said Mark Poweska, incoming President and CEO of Hydro One Limited. "This increase reflects the strong fundamentals of the business and confidence in our continued ability to produce solid financial results."
Unless indicated otherwise, all common share dividends paid by Hydro One Limited to shareholders are designated as "eligible" dividends for the purpose of the Income Tax Act (Canada) and any similar provincial legislation. Such quarterly dividends, unless and until changed, are only payable as and when declared by Hydro One Limited's Board of Directors and there is no entitlement to any dividend prior thereto.
About Hydro One Limited
We are Ontario's largest electricity transmission and distribution provider with almost 1.4 million valued customers, almost C$25.5 billion in assets and 2018 annual revenues of almost C$6.2 billion. Our team of approximately 8,600 skilled and dedicated employees proudly build and maintain a safe and reliable electricity system which is essential to supporting strong and successful communities. In 2018, Hydro One invested almost $1.6 billion in its 30,000 circuit kilometres of high-voltage transmission and 123,000 circuit kilometres of primary distribution networks and injected approximately $1.3 billion into the economy by buying goods and services in Ontario. We are committed to the communities where we live and work through community investment, sustainability and diversity initiatives. We are one of only six utility companies in Canada to achieve the Sustainable Electricity Company designation from the Canadian Electricity Association. Through Hydro One Telecom Inc.'s extensive fibre optic network, we also provide advanced broadband telecommunications services on a wholesale basis. Hydro One Limited's common shares are listed on the Toronto Stock Exchange (TSX: H).
For More Information
For more information about everything Hydro One, please visit www.HydroOne.com where you can find additional information including links to securities filings, historical financial reports, and information about the Company's governance practices, corporate social responsibility, customer solutions, and further information about its business.
SOURCE Hydro One Limited
For further information: Omar Javed, Vice President, Investor Relations, email@example.com, 416-345-5943