HALIFAX, Sept. 23, 2011 /CNW/ - (TSX: EMA): Today, the Board of Directors of Emera Inc. approved an increase in the
annual common share dividend rate to $1.35 from $1.30 per common share.
The first quarterly dividend payment, of $0.3375 per common share, is
payable on and after November 15, 2011 to common shareholders of record
at the close of business on November 1, 2011.
"This dividend increase reflects the Board's confidence in the strength
of Emera's growing business", said Chris Huskilson, President and Chief
Executive Officer of Emera Inc. "We know our dividend is important to
our shareholders, and we are pleased to be able to provide for this
The Board of Directors also approved a quarterly dividend of $0.2750, or
$1.10 annually, per Series A First Preferred Share. The first quarterly
dividend payment is payable on and after November 15, 2011, to Series A
First Preferred shareholders of record at the close of business on
November 1, 2011.
Pursuant to the Income Tax Act (Canada) and corresponding provincial
legislation, Emera Inc. hereby notifies its common shareholders and its
Series A First Preferred shareholders that such dividends declared
qualify as eligible dividends.
Forward Looking Information
This news release contains forward looking information. Actual future
results may differ materially. Additional information related to Emera,
including the company's Annual Information Form, can be found on SEDAR
at www.sedar.com or on EDGAR at www.sec.gov.
Emera Inc. is an energy and services company with $6.6 billion in assets
and 2010 revenues of $1.6 billion. The company invests in electricity
generation, transmission and distribution, as well as gas transmission
and utility energy services. Emera's strategy is focused on the
transformation of the electricity industry to cleaner generation and
the delivery of that clean energy to market. Emera operates throughout
northeastern North America, in three Caribbean countries and in
California. More than 80% of the company's earnings come from regulated
investments. Emera common and preferred shares are listed on the
Toronto Stock Exchange and trade respectively under the symbol EMA and
EMA.PR.A. Additional information can be accessed at www.emera.com, www.sedar.com, or on www.sec.gov.
SOURCE EMERA INC.
For further information:
Jill MacDonald, CA
Manager, Investor Relations