HALIFAX, Nova Scotia--(BUSINESS WIRE)--
Emera Inc. (“Emera”) (TSX:EMA) today announced that its Board of
Directors has approved a 10% increase in its annual common share
dividend to $2.09 from $1.90, and extended its 8% annual dividend growth
target through to 2020 (from 2019). The approval of the next quarterly
dividend at the increased rate is expected on July 8, 2016.
“The significant earnings and cash accretion expected from the TECO
Energy acquisition, combined with the growth potential for the merged
businesses, has provided our Board of Directors with the confidence to
increase the common share dividend by 10 percent, and extend the 8
percent dividend growth target through 2020,” said Chris Huskilson,
President and CEO of Emera Inc.
About Emera Inc.
Emera Inc. is a geographically diverse energy and services company
headquartered in Halifax, Nova Scotia with approximately $27.5 billion
in assets and 2015 pro-forma revenues of $ 6.3 billion. The company
invests in electricity generation, transmission and distribution, gas
transmission and distribution, and utility energy services with a
strategic focus on transformation from high carbon to low carbon energy
sources. Emera has investments throughout North America, and in four
Caribbean countries. Emera continues to target having 75-85% of its
adjusted earnings come from rate-regulated businesses. Emera’s common
and preferred shares are listed on the Toronto Stock Exchange and trade
respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C,
EMA.PR.E, and EMA.PR.F and instalment receipts are listed and trade
under the symbol EMA.IR. Depositary receipts representing common shares
of Emera are listed on the Barbados Stock Exchange under the symbol
EMABDR. Additional Information can be accessed at www.emera.com
or at www.sedar.com
Forward Looking Information
This news release contains forward-looking information within the
meaning of applicable securities laws including, among other things,
statements relating to dividend increases and growth targets, earnings
and cash accretion and growth opportunities. By its nature,
forward-looking information requires Emera to make assumptions and is
subject to inherent risks and uncertainties. These statements reflect
Emera management’s current beliefs and are based on information
currently available to Emera management. There is a risk that
predictions, forecasts, conclusions and projections that constitute
forward-looking information will not prove to be accurate, that Emera’s
assumptions may not be correct and that actual results may differ
materially from such forward-looking information. Additional detailed
information about these assumptions, risks and uncertainties is included
in Emera’s securities regulatory filings, including under the heading
“Business Risks and Risk Management” in Emera’s annual Management’s
Discussion and Analysis, and under the heading “Principal Risks and
Uncertainties” in the notes to Emera’s annual and interim financial
statements, which can be found on SEDAR at www.sedar.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160704005059/en/
Emera:
Investor Relations:
Scott LaFleur, 902-428-6375
scott.lafleur@emera.com
or
Media:
Neera
Ritcey, 902-222-2683
neera.ritcey@emera.com
Source: Emera Inc.