HALIFAX, Oct. 9 /CNW/ - (EMA-TSX): Emera Inc. today announced changes to its Common Shareholders Dividend Reinvestment and Share Purchase Plan (the "Plan") to provide for a discount of up to 5% from the average market price of Emera's common shares for common shares purchased in connection with the reinvestment of cash dividends under the Plan. The Board of Directors of Emera has decided that effective on and after the quarterly dividend payment on November 16, 2009 to shareholders of record on November 2, 2009, Emera common shares will be purchased under the Plan at a discount of 5% from their average market price (as determined under the Plan). The discount will not apply to shares purchased under the "Optional Cash Payment" feature of the Plan.
Existing members of the Plan will automatically have the discount applied to the reinvestment of the November 16, 2009 dividend payment.
Any Canadian resident who is a registered shareholder wishing to join the Plan can obtain an enrolment form from Emera's Transfer Agent, Computershare Trust Company of Canada, from their website at www.computershare.com, or by calling 1-877-982-8762. In order to join the Plan in time for the November 16, 2009 dividend, enrolment forms from registered holders must be received by Computershare Trust Company of Canada, 100 University Avenue, Toronto, Ontario M5J 2Y1 before the close of business on October 29, 2009.
Canadian residents who are beneficial or non-registered shareholders must contact their financial institution or broker for instructions on how to participate in advance of the above date.
Emera common shares issuable under the Plan have not been registered under the U.S. Securities Act of 1933 or under the securities laws of any U.S. state, and are not being offered for sale in the U.S. or any of its territories or possessions. U.S. persons and residents are not eligible to participate in the Plan. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities in the U.S., or any offer to or solicitation from any U.S. person or resident.
Forward Looking Information
This news release contains forward looking information. Actual future results may differ materially. Additional financial and operational information is filed electronically with various securities commissions in Canada through the System for Electronic Document Analysis and Retrieval (SEDAR).
Emera Inc. (EMA-TSX) is an energy and services company with $5.3 billion in assets. Electricity is Emera's core business. The company has two wholly-owned regulated electric utility subsidiaries, Nova Scotia Power Inc. and Bangor Hydro-Electric Company, which together serve 600,000 customers. Emera also owns 19% of St. Lucia Electricity Services Limited, which serves more than 50,000 customers on the Caribbean island of St. Lucia and 25% of Grand Bahama Power Company which serves 19,000 customers on the Caribbean island of Grand Bahama. In addition to its electric utility investments, Emera owns the Brunswick Pipeline, a 145 km gas pipeline in New Brunswick; Bayside Power, a 260 MW gas-fired power plant in Saint John, New Brunswick; Emera Energy Services, a physical natural gas and power marketing and asset management business; a joint venture interest in Bear Swamp, a 600 megawatt pumped storage hydro-electric facility in northern Massachusetts; a 12.9% interest in the Maritimes & Northeast Pipeline; a 8.2% interest in Open Hydro. Visit Emera on the web at www.emera.com.
SOURCE Emera Inc.
For further information: For further information: Jennifer Nicholson, CA, Director Investor Relations and Strategic Development, (902) 428-6347