06:54 AM EDT, 09/26/2024 (MT Newswires) -- Fortis ( FTS ) said Thursday that it has increased its five-year capital investment plan through 2029 to 26 billion Canadian dollars ($19.31 billion), up CA$1 billion from its previous plan.

The North American electric and gas utility said it estimates $3 billion in investments in Michigan and Minnesota, the majority of which will extend beyond 2029.

The company said it is increasing Q4 dividends 4.2% to CA$0.615 per share, payable Dec. 1 to shareholders of record as of Nov. 18.