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HALIFAX - Emera Inc. (TSX/NYSE:EMA), a $13.6 billion utility company with a solid track record of dividend payments, announced Wednesday the dividend rates for its Cumulative Rate Reset First Preferred Shares, Series A and Cumulative Floating Rate First Preferred Shares, Series B. According to InvestingPro data, the company has maintained dividend payments for 34 consecutive years.
The Series A Shares will pay 4.951% per annum ($0.3094 per share quarterly) from August 15, 2025, through August 14, 2030. This rate equals the Government of Canada bond yield as of July 16, 2025, plus 1.84%.
For Series B Shares, the dividend rate will be 4.542% ($0.2862 per share) for the three-month period from August 15 to November 14, 2025. This floating rate, calculated as the three-month Government of Canada treasury bill yield plus 1.84%, will reset quarterly.
Shareholders of both series have conversion options on August 15, 2025. Series A holders may retain their shares and continue receiving fixed-rate dividends or convert to Series B shares on a one-for-one basis to receive floating-rate dividends. Similarly, Series B shareholders can either maintain their current shares or convert to Series A shares.
The conversion period runs from July 16 to July 31, 2025, at 5:00 p.m. EDT. Conversion rights are subject to minimum outstanding share requirements of 1,000,000 shares for each series.
Shareholders will have another opportunity to convert their shares on August 15, 2030, and every five years thereafter, according to the company’s press release statement.
Emera is a North American energy services provider headquartered in Halifax, serving approximately 2.6 million customers across Canada, the United States, and the Caribbean. The company maintains a GOOD financial health score according to InvestingPro, which offers 6 additional key insights about the company’s performance and valuation. Currently trading near its 52-week high, Emera shows strong market momentum ahead of its next earnings report scheduled for August 8, 2025.
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