Track Record of Dividend Growth
We have increased our common share dividend every year for the past 45 years, the longest record of annual dividend increases of any Canadian publicly traded company. On January 12, 2017, we declared a first quarter dividend of 35.75 cents per share or $1.43 per share on an annualized basis, a 10 per cent increase over the 2016 annualized dividend.
Growing a High Quality Earnings Base
Over the past five years, we have invested nearly $10 billion in Regulated Utility and long-term contracted operations. The Regulated Utility portion of our total adjusted earnings has grown from 52 per cent in 2011 to 93 per cent in 2016. Our highly contracted and regulated earnings base provides the foundation for continued dividend growth.
Future Capital Investment
We will continue to grow our business in the years ahead. In the period 2017 to 2019, we expect to invest $5 billion in Regulated Utility and long-term contracted assets, which will continue to strengthen Canadian Utilities' high quality earnings base. Of the $5 billion planned spend, $3.8 billion is on Regulated Utilities, and $1.2 billion is on long-term contracted assets.
Financial strength is fundamental to Canadian Utilities' current and future success. It ensures we have the financial capacity to fund our existing and future capital investment. We are committed to maintaining our strong, investment grade credit ratings, which allow us to access capital at attractive rates.