HALIFAX, Jan. 7 /CNW/ - On January 7, 2011 the Board of Directors of Emera Inc. approved a quarterly dividend of $0.3250 per common share payable on and after February 15, 2011 to common shareholders of record at the close of business on February 1, 2011; and a quarterly dividend of $0.2750 per Series A First Preferred Share payable on and after February 15, 2011 to Series A First Preferred shareholders of record at the close of business on February 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.
About Emera Inc.
(EMA and EMA.PR.A - TSX) is an energy and services company with $5.8 billion Canadian dollars in assets. Electricity is Emera's core business. Approximately 94% of Emera's revenues are earned by Nova Scotia Power Inc (NSPI), Bangor Hydro Electric Company (BHE) and the Brunswick Pipeline. NSPI and BHE are wholly-owned regulated electric utilities which together serve 603,000 customers. The Brunswick Pipeline is a 145 km gas pipeline in New Brunswick. Emera also owns Maine and Maritimes Corporation, the parent company of Maine Public Service Company, a regulated electric utility serving approximately 36,000 electricity customers in Northern Maine and MAM Services Group. In the Caribbean, Emera owns 19% of St. Lucia Electricity Services Limited, which serves more than 50,000 customers on the island of St. Lucia; 80.4% of Grand Bahama Power Company which serves 19,000 customers on the island of Grand Bahama; and 38% of Light & Power Holdings which serves 120,000 customers on the island of Barbados through its regulated electric utility The Barbados Light and Power Company. In addition to its electric utility investments, Emera owns 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; and an 8.2% interest in Open Hydro. Visit Emera on the web at www.emera.com.
SOURCE EMERA INC.
For further information: Nancy Tower, FCA, Chief Financial Officer, (902) 428-6991; Jennifer Nicholson, CA, Senior Director Stakeholder Relations, (902) 428-6347