Fortis Inc. Shareholders Approve Election of Directors, Appointment of Auditors and Say on Pay
May 02, 2019 at 03:41 pm EDT
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ST. JOHN'S, Newfoundland and Labrador, May 02, 2019 (GLOBE NEWSWIRE) -- Fortis Inc. ("Fortis" or the "Corporation") (TSX/NYSE: FTS) announced the voting results from its Annual Meeting of Shareholders held today in St. John's, Newfoundland and Labrador. Shareholders voted in favour of all items of business before the meeting, including electing the nominated directors, appointing Deloitte LLP as the Corporation's auditors and voting on an advisory basis to accept the Corporation's approach to executive compensation.
Election of Directors
Fortis shareholders elected the following 12 individuals to the Fortis board of directors to serve until the next Annual Meeting of Shareholders or until their successors are elected or appointed:
Nominees
Votes For
Votes Withheld
Tracey C. Ball
235,524,929
99.40%
1,432,728
0.60%
Pierre J. Blouin
235,335,421
99.31%
1,623,536
0.69%
Paul J. Bonavia
236,092,048
99.63%
865,135
0.37%
Lawrence T. Borgard
235,468,940
99.37%
1,488,817
0.63%
Maura J. Clark
235,377,365
99.33%
1,581,592
0.67%
Margarita K. Dilley
235,386,290
99.34%
1,572,667
0.66%
Julie A. Dobson
235,505,579
99.39%
1,452,178
0.61%
Ida J. Goodreau
234,886,715
99.13%
2,072,242
0.87%
Douglas J. Haughey
234,756,296
99.07%
2,202,659
0.93%
Barry V. Perry
235,440,177
99.36%
1,517,361
0.64%
Joseph L. Welch
236,443,867
99.78%
515,090
0.22%
Jo Mark Zurel
235,293,624
99.30%
1,665,333
0.70%
Appointment of Auditors
Shareholders of the Corporation approved the appointment of Deloitte LLP as the Corporation's auditors to hold office until the close of the next Annual Meeting of Shareholders.
Votes For
Votes Withheld
244,170,325
99.79%
513,294
0.21%
Say on Pay
Shareholders approved the non-binding advisory vote regarding the Corporation's approach to executive compensation ("Say on Pay") at the Annual Meeting of Shareholders. The Fortis board of directors takes the results of the Say on Pay vote into account when considering future compensation policies, practices and decisions and in determining whether there is a need to increase engagement with shareholders on compensation and related matters.
Votes For
Votes Against
229,397,707
96.81%
7,560,244
3.19%
About Fortis
Fortis is a leader in the North American regulated electric and gas utility industry with 2018 revenue of C$8.4 billion and total assets of approximately C$53 billion as at March 31, 2019. The Corporation's 8,800 employees serve utility customers in five Canadian provinces, nine U.S. states and three Caribbean countries.
Fortis shares are listed on the TSX and NYSE and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com, www.sedar.com, or www.sec.gov.
Fortis Inc. is a Canada-based diversified regulated electric and gas utility holding company. The Company's regulated utility businesses includes ITC Investment Holdings Inc., ITC Holdings Corp. and the electric transmission operations of its regulated operating subsidiaries, which include International Transmission Company, Michigan Electric Transmission Company, LLC, ITC Midwest LLC and ITC Great Plains, LLC; UNS Energy Corporation, which primarily includes Tucson Electric Power Company (TEP), UNS Electric, Inc. and UNS Gas, Inc.; CH Energy Group, Inc, which primarily includes Central Hudson Gas and Electric Corporation; FortisBC Energy Inc.; FortisAlberta Inc. and FortisBC Inc. The Companyâs non-regulated businesses include energy infrastructure and corporate and other.