Track Record of Dividend Growth
We have increased our common share dividend every year for the past 24 years, a track record we are very proud of. On January 12, 2017 we declared a first quarter dividend of 32.75 cents per share or $1.31 per share on an annualized basis, a 15 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 39 per cent in 2011 to 81 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 ATCO's 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 ATCO's 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.