NOVI, Mich., Feb. 6, 2014 -- ITC Holdings Corp. (NYSE: ITC) announced today that its board of directors has
approved a 3 for 1 stock split in the form of a stock dividend. On February 28, 2014, shareholders of record as of February
18, 2014 will receive a distribution of two additional shares of ITC common stock for each share they hold. Upon completion of
the stock split, ITC will have approximately 157.5 million shares of common stock outstanding. This is the first time ITC's
common stock has split since the company's initial public offering on July 25, 2005.
In addition, the company's board of directors approved a quarterly cash dividend on ITC's common stock of $0.1425 per share
on a post-split basis (adjusted from $0.4275 per share on a pre-split basis), payable on March 19, 2014 to shareholders of
record on March 10, 2014.
"The board's decision to effectuate a stock split was made possible by ITC's strong track record of delivering value to our
customers and our shareholders and reflects our confidence in the long-term growth prospects for the business," said Joseph
L. Welch, chairman, president and CEO of ITC. "We also believe the stock split will enhance the liquidity of our shares while
also maintaining a share price that is attractive to a broad range of investors."
ITC Holdings Corp.
ITC Holdings Corp. (NYSE: ITC) is the nation's largest independent electric transmission company. Based in Novi, Michigan,
ITC invests in the electric transmission grid to improve reliability, expand access to markets, lower the overall cost of delivered
energy and allow new generating resources to interconnect to its transmission systems. ITC's regulated operating subsidiaries
include
ITCTransmission, Michigan Electric Transmission Company, ITC Midwest and ITC Great Plains. Through these
subsidiaries, ITC owns and operates high-voltage transmission facilities in Michigan, Iowa, Minnesota, Illinois, Missouri, Kansas
and Oklahoma, serving a combined peak load exceeding 26,000 megawatts along 15,000 circuit miles of transmission line.
Through ITC Grid Development and its subsidiaries, the company also focuses on expansion in areas where significant
transmission system improvements are needed. For more information, please visit ITC's
website. (ITC-itc-F)
Safe Harbor Statement
This press release contains certain statements that describe our management's beliefs concerning future business conditions,
plans and prospects, growth opportunities and the outlook for our business and the electricity transmission industry based
upon information currently available. Such statements are "forward-looking" statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Wherever possible, we have identified these forward-looking statements by words
such as "will," "may," "anticipates," "believes," "intends," "estimates," "expects," "projects" and similar phrases. These forwardlooking
statements are based upon assumptions our management believes are reasonable. Such forward looking statements
are subject to risks and uncertainties which could cause our actual results, performance and achievements to differ materially
from those expressed in, or implied by, these statements, including, among others, the risks and uncertainties disclosed in our
most recent Annual Report on Form 10-K and our subsequent Quarterly Reports on Form 10-Q filed with the Securities and
Exchange Commission from time to time.
Because our forward-looking statements are based on estimates and assumptions that are subject to significant business,
economic and competitive uncertainties, many of which are beyond our control or are subject to change, actual results could
be materially different and any or all of our forward-looking statements may turn out to be wrong. Forward-looking statements
speak only as of the date made and can be affected by assumptions we might make or by known or unknown risks and
uncertainties. Many factors mentioned in our discussion in this release and in our annual and quarterly reports will be important
in determining future results. Consequently, we cannot assure you that our expectations or forecasts expressed in such
forward-looking statements will be achieved. Except as required by law, we undertake no obligation to publicly update any of
our forward-looking or other statements, whether as a result of new information, future events, or otherwise.
SOURCE ITC Holdings Corp.
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