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Hydro One's Robust Dividend Distribution Reflects Growing Prosperity

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Leo Gonzalez

May 14, 2024 - 10:58 am

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Hydro One Announces Latest Dividend Payout Sustaining Commitment to Shareholders

TORONTO, May 14, 2024 /PRNewswire/ - In a recent announcement that is making waves across the financial sector, Hydro One Limited (TSX: H), has declared a quarterly cash dividend to its esteemed common shareholders. The announced figure stands at an impressive $0.3142 per share, which is slated for distribution on June 28, 2024. It is noteworthy that this windfall is set to benefit shareholders who hold records as of June 12, 2024.

This development is part of Hydro One's continuous practice to maintain a healthy relationship with its investors by returning value in the form of cash dividends. For the average investor, the aspect of dividends that warrants utmost attention is their eligibility status. In this case, all dividends issued by Hydro One Limited are classified as "eligible" for the intents and purposes of the Income Tax Act (Canada) along with any corresponding provincial legislations. This classification has significant implications on the taxation of these dividends for Canadian shareholders. It must be underscored that the dividends are distributed solely when declared by Hydro One Limited's Board of Directors, and no entitlement to dividends exists prior to such declaration.

Hydro One Limited At A Glance: A Transmission and Distribution Giant

Steering the conversation towards the operational dynamics of Hydro One Limited, it is imperative to highlight that through its wholly-owned subsidiaries, the corporation stands as Ontario's premier electricity transmission and distribution provider. This status comes with the responsibility of catering to approximately 1.5 million customers who value the service provided. Adding to this stature is a robust asset portfolio valued at around $32.8 billion as recorded on December 31, 2023, and a significant revenue figure of approximately $7.8 billion over the course of 2023.

The company's reputation is bolstered by a formidable workforce of approximately 9,700 dedicated and professionally adept employees. Their concerted efforts are pivotal in constructing and upholding a secure, reliable electricity system, that is an indispensable element for nurturing strong, prosperous communities. In 2023, Hydro One demonstrated its dedication to enhancing its infrastructure by investing a substantial amount of approximately $2.5 billion in its transmission and distribution networks. This investment underscores the company's commitment to its role in supporting the backbone of society - the power grid.

Simultaneously, Hydro One is a significant contributor to the local economy, with about $2.5 billion spent on the procurement of goods and services. Such expenditure has widespread positive ripple effects on the economy, providing businesses with opportunities and encouraging economic activity. Moreover, Hydro One exemplifies corporate social responsibility through extensive community investment, sustainability initiatives, and the promotion of diversity within its ranks and operations. These actions display a commendable dedication to social value creation that extends beyond mere corporate profits.

Hydro One Limited asserts its position in the stock market with its common shares proudly listed on the Toronto Stock Exchange (TSX). The company's financial instruments, specifically some of Hydro One Inc.'s medium term notes, are traded on the prestigious New York Stock Exchange (NYSE). To provide stakeholders with comprehensive access to pertinent information regarding its operations, financial health, and corporate governance, Hydro One Limited has ensured that such data can be effortlessly accessed through various online platforms.

For those interested in a deeper dive into Hydro One's financials, market strategies, or governance structure, the information is readily available at www.hydroone.com. This website serves as a transparent window into the company, offering insights into its financial reports and declarations, governance practices, and corporate social responsibility endeavors. Additionally, www.sedarplus.com offers an array of securities filings that form the bedrock of informed investment decisions. For an inclusive depiction of Hydro One's financial demeanor, investors and analysts may also peruse information provided at www.sec.gov.

Exemplifying Transparency and Community Engagement

For a more intimate understanding of all facets enveloping Hydro One, the company extends an invitation to visit their comprehensive website at www.HydroOne.com. This portal extends beyond the conventional company overview by delving into historical financial reports, details pertaining to Hydro One's governance practices, their social responsibility impact, a synopsis of customer solutions, and a broad spectrum of business-relatable content. It stands as testimony to Hydro One's ethos of transparency and community engagement, further solidifying the trust and reliability perceived by their customers and shareholders alike.

As one delves into the offerings at Hydro One's online hub, it becomes evident that it is more than just an electricity transmission and distribution company. It is an enterprise that actively seeks to educate its stakeholders on all facets of the business and the energy industry at large. The company's candid presentation of its own governance practices, financial details, and business operations allows investors, customers, and community members to understand how Hydro One operates within the larger energy ecosystem and the measures it takes to advance the communities it serves.

Moreover, Hydro One's unyielding dedication to sustainable practices is vividly showcased through its sustainability initiatives visible on the website. Prospective investors and environmentally conscious individuals can learn how the company is addressing environmental challenges and championing green energy solutions. This comprehensive digital platform also serves as an archive, storing historical financial information and offering a thorough understanding of how the company has grown and evolved financially over the years.

In essence, Hydro One's identity as a corporate entity is replete with the principles of corporate social responsibility and an ingrained ethos of serving and uplifting the communities it operates within. The investment Hydro One makes in its infrastructure is indicative of its commitment to delivering uninterrupted, high-quality service. But the investment that truly distinguishes Hydro One is its active contribution to societal progress through strategic community investments, the promotion of diversity, and a staunch focus on environmental sustainability.

Hydro One Limited remains a pivotal figure in Ontario's electricity landscape by constantly aligning its business operations with the infrastructural and economic demands of the province. The company's latest declaration of a quarterly dividend is a consistent demonstration of its financial health and its Board of Director's confidence in the continued success of the enterprise. With a keen focus on providing returns to its shareholders, Hydro One continues to reinforce its position as a lynchpin of Ontario's economic vitality.

In conclusion, Hydro One Limited's announcement about the forthcoming dividend payout is just a fragment of the entire narrative of this corporation's journey. Through its vast assets, robust investments, considerable economic contributions, and a dedicated workforce, Hydro One facilitates not just the transmission and distribution of electricity, but also the transmission of economic prosperity and sustainable development across communities in Ontario. Its proactive approach in engaging with stakeholders through transparent data sharing and a wealth of online resources highlights the company's commitment to openness.

One can follow the journey of Hydro One Limited's advancements and strategic developments not just through its declared dividends but by observing the value it continuously contributes to the facets of the energy industry, economy, and society at large. For more information regarding Hydro One Limited's community-centric initiatives, financial health, and up-to-the-minute updates, the company encourages a visit to its comprehensive website. Here, shareholders, customers, and associates can immerse themselves in a wealth of knowledge, affirming Hydro One's standing as not just a provider of essential services, but also as a pillar of community support and an architect of a greener future.

The content from www.hydroone.com, www.sedarplus.com, and www.sec.gov has been meticulously incorporated within this article to ensure readers can seamlessly navigate and explore the multilayered aspects of Hydro One Limited, right from in-depth financial analysis to its foundational corporate ethos.

About Hydro One Limited

Hydro One Limited remains steadfast in communicate its financial propositions, corporate announcements and fulfilling its promise to shareholders. As circumstances develop and business evolves, Hydro One Limited pledges to continually update its stakeholders through official communications and maintain its responsibilities as a publicly traded company.

In a world where information and transparency hold supreme value, Hydro One Limited is committed to setting an industry standard for stakeholder engagement and fiscal transparency through continuous and thorough disclosure. Its investor-focused philosophy is evidenced by the in-depth resources made available to the public which support informed decision-making and foster a relationship built on mutual trust and long-term investment stability.

Source: Hydro One Limited