ITC Holdings Corp. (ITC) CFO Cameron Bready says the company is on track to achieve the five-year growth plan that it rolled out in late 2011 to early 2012. The plan calls for a $4.2 billion investment in new transmission infrastructure over the course of five years. He says that if the plan is successful it will “drive compound annual growth in earnings per share in the 15% to 17% range over that time frame.”
“That’s very attractive growth for a regulated utility like us and when you look at our investor base, we certainly view the investor base as largely attracted to the growth potential in the business,” Bready says.
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Additionally, Bready says ITC will continue to increase its dividend. He says the dividend was increased by 13% in 2013, and that it is forecasted to grow 10% to 15% over the next few years.
“So as we obviously communicate with our investors, we’re emphasizing the opportunity to realize earnings growth in the business that is very attractive relative to typically what you would see with a utility as well as the opportunity to realize meaningful growth in our dividend over that same time frame,” Bready says. “We believe that the combination of those two as well as our continued opportunity to grow the business longer term presents a very compelling investment thesis for investors and one that we believe they’re well focused on.”
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