Canadian Utilities Limited announced on November 25, 2025, a public offering of Cumulative Redeemable Second Preferred Shares Series JJ, which closed on November 27, 2025. The company issued 8,050,000 shares at $25.00 per share, generating gross proceeds of $201,250,000. The final amount included the full exercise of the underwriters' over-allotment option, expanding the base offering from the initially proposed 7,000,000 shares valued at $175,000,000. The Series JJ Preferred Shares commenced trading on the Toronto Stock Exchange under the symbol CU.PR.K on the closing date.

The shares carry fixed cumulative preferential cash dividends of $1.40 per share annually, representing an estimated net yield of 5.60% per annum. Dividends are payable quarterly on March 1, June 1, September 1, and December 1 each year. The initial dividend payment, calculated from the November 27, 2025 issue date, is expected to be $0.36055 per share on March 1, 2026.

The offering was underwritten by a syndicate co-led by BMO Capital Markets and RBC Capital Markets, with participation from TD Securities Inc., Scotiabank, CIBC Capital Markets, National Bank Financial Inc., and ATB Capital Markets. Total underwriting fees amounted to $5,250,000. Bennett Jones LLP served as legal counsel to Canadian Utilities, while Blake, Cassels & Graydon LLP represented the underwriters. Proceeds will fund capital expenditures and general corporate purposes.