Emera increases dividend for 20th consecutive year
The Halifax-based energy company's new quarterly dividend of 74 cents per share is a 1% annual increase.
HALIFAX — Emera Inc. has raised its quarterly dividend for the 20th consecutive year.
The Halifax-based energy company's board approved an increase to 74 cents per share, up from the previous quarterly dividend.
The new dividend represents an annualized payout of $2.96 per share, a one per cent increase from the previous annual dividend of $2.93.
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"This increase marks our 20th consecutive year of dividend growth, underscoring the strength of our business and our commitment to delivering stable, sustainable returns to shareholders," said Scott Balfour, president and CEO of Emera.
"The continued growth in our dividend is supported by our forecasted 7-8% rate base growth and 5-7% average adjusted earnings per share1 growth target through 2030."
Emera said it continues to prioritize the enhancement of shareholder value through disciplined financial management and a robust growth strategy.
The company uses financial measures that do not have standardized meaning under USGAAP and may not be comparable to similar measures presented by other entities.
Management believes excluding certain items better distinguishes the ongoing operations of the business.
This news release contains forward-looking information within the meaning of applicable Canadian securities laws and forward-looking statements within the meaning of US applicable securities laws.
Forward-looking information is typically identified by words such as "anticipate," "expect," "intend," "plan," "target," "believe," "forecast," "estimate," "will," "may," "should," and similar expressions suggesting future outcomes.
Undue reliance should not be placed on this forward-looking information, which applies only as of the date hereof.
There is a risk that predictions, forecasts, conclusions and projections that constitute forward-looking information will not prove to be accurate.
Emera is a leading North American provider of energy services headquartered in Halifax, Nova Scotia, with investments in regulated electric and natural gas utilities, and related businesses and assets.
The Emera family of companies delivers safe, reliable energy to approximately 2.1 million customers in the United States, Canada and the Caribbean.
Our team of 6,800 employees is committed to our purpose of energizing modern life and delivering a cleaner energy future for all.
Emera’s common and preferred shares are listed and trade on the Toronto Stock Exchange and its common shares are listed and trade on the New York Stock Exchange.
With files from Financial Post