07:34 AM EST, 02/20/2025 (MT Newswires) -- Hydro One ( HRNNF ) on Thursday reported higher net income for its fourth quarter.

Net income attributable to shareholders increased to $200 million, or $0.33 per share, from $181 million, or $0.30 per share, in the same period of 2023.

Revenue increased $116 million, to $2.1 billion. Hydro One ( HRNNF ) said the increase was mainly due to higher Ontario Energy Board-approved 2024 rates and differences in regulatory adjustments. Net revenue, excluding purchased power, was $1 billion, up from $989 million, in the prior year period.

Hydro One ( HRNNF ) lifted its EPS growth guidance for the 2023 to 2027 period to an annualized rate of 6% to 8% from the previous annualized rate of 5% to 7%.

The company will pay a quarterly dividend of $0.31 per share on March 31.