Canadian Utilities Limited to Raise $175 Million Through Preferred Share Issue

Calgary-based Canadian Utilities Limited has announced a significant financial undertaking, entering an agreement with a syndicate of underwriters to issue 7 million 5.60% Cumulative Redeemable Second Preferred Shares Series JJ at $25 each. This offering is expected to raise $175 million, with the potential to reach $201.25 million if an additional underwriter option is exercised. The funds are earmarked for capital expenditures and general corporate purposes, reinforcing the company's ongoing investment in energy infrastructure.

The strategic financial move, slated to close on November 27, 2025, reflects Canadian Utilities' commitment to supporting its projects and expansion efforts. These preferred shares will offer quarterly dividends, yielding an annual rate of 5.60%, and may be listed on the Toronto Stock Exchange following necessary approvals.

This development underscores Calgary’s enduring role as a vital hub for energy business operations and investment. The energy sector remains a cornerstone of Calgary's economy, supporting over 100,000 direct and indirect jobs and contributing substantially to the local GDP. Such capital injections are crucial for maintaining economic growth and job sustainability within the city's dynamic energy landscape, particularly as Calgary continues to emphasize energy innovation and infrastructure improvements.