The Ontario Teachers' Pension Plan Board purchased 2,001,045 shares of Fortis. This new stake is valued at approximately $114.5 million. Fortis now ranks as the 19th largest holding for the pension plan.
The investment coincides with the ex-dividend date for a $0.64 per share quarterly dividend. Shareholders of record as of today will receive the payment on September 1, 2026.
Fortis recently reported a slight beat on earnings per share. The company missed its revenue expectations during the same period.