08:37 AM EDT, 05/08/2025 (MT Newswires) -- Hydro One ( HRNNF ) on Thursday raised its dividend after the company's earnings increased in the first quarter.

The company declared a quarterly dividend of $0.3331 per share, payable June 30, rising from the previous quarterly dividend of $0.3142 announced for the fourth quarter.

Hydro One ( HRNNF ) posted net income of $358 million, or $0.60 per share, climbing from $293 million, or $0.49 per share, and exceeding the analyst consensus earnings forecast of $0.55 per share compiled by FactSet.

Revenue rose to $2.41 billion from $2.17 billion. The company said its higher earnings were driven by Ontario Energy Board-approved 2025 transmission and distribution rates, as well as higher average monthly peak demand.