HALIFAX, July 9 /CNW/ - On July 9, 2010 the Board of Directors of Emera Inc. approved a quarterly dividend of $0.2825 per common share payable on and after August 16, 2010 to common shareholders of record at the close of business on July 30, 2010; and an initial dividend of $0.2230 per Series A First Preferred Share payable on and after August 16, 2010 to Series A First Preferred shareholders of record at the close of business on July 30, 2010.
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.
Emera Inc. (EMA and EMA.PR.A -TSX) is an energy and services company with $5.4 billion 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 38% of Barbados Light and Power which serves 120,000 customers on the Caribbean island of Barbados, 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 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: For further information: Nancy Tower, FCA, Chief Financial Officer, (902) 428-6991; Jennifer Nicholson, CA, Senior Director Stakeholder Relations, (902) 428-6347