Novi-based ITC Holdings Corp. (NYSE: ITC) Wednesday announced that its board of directors has approved a 4.7 percent increase in ITC’s common dividend.
This is the fifth consecutive year that ITC has approved an increase in the common dividend.
On Sept. 15, ITC will pay a quarterly cash dividend on ITC common stock at the increased rate of 33.5 cents a share to shareholders of record as of Sept. 1.
ITC Holdings invests in the electricity transmission grid to improve electric reliability, expand access to markets, lower the overall cost of delivered energy and allow new generating resources to interconnect to its transmission systems.
The largest independent electricity transmission company in the country, ITC operates high-voltage transmission systems in Michigan’s Lower Peninsula and portions of Iowa, Minnesota, Illinois, Missouri and Kansas, serving a combined peak load in excess of 25,000 megawatts through its regulated operating subsidiaries, ITCTransmission, Michigan Electric Transmission Co., ITC Midwest and ITC Great Plains. ITC also focuses on new areas where significant transmission system improvements are needed through ITC Grid Development and its subsidiaries.
More at www.itc-holdings.com.
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