Emera shareholders elect board of directors with high approval

HALIFAX, Nova Scotia - Emera Inc. (TSX: EMA), a North American energy services provider, has successfully re-elected its board of directors during the Annual Meeting of Shareholders on Thursday. The slate of 12 nominees, as listed in the Management Information Circular dated March 19, 2025, received overwhelming shareholder support, with all nominees securing their positions with a high percentage of votes in favor.

The election saw Scott C. Balfour, the nominee with the highest approval, receive 99.68% of the votes for, while Carla M. Tully closely followed with 99.74% approval. The candidate with the lowest percentage of votes for, Kent M. Harvey, still garnered a significant majority of 99.13%. The voting process was conducted by ballot, ensuring a transparent and formalized election.

The detailed results of the vote have been made available, with the percentage of votes withheld for each nominee not exceeding 3.05%. This strong endorsement from the shareholders reflects confidence in the current board’s direction and governance.

Emera, headquartered in Halifax, Nova Scotia, plays a significant role in the energy sector, providing services to approximately 2.6 million customers across Canada, the United States, and the Caribbean. With a market capitalization of $13.2 billion and impressive revenue growth of 9.93% over the last twelve months, the company is focused on delivering safe, reliable energy and is committed to contributing to a cleaner energy future. Employing a workforce of 7,600, Emera is dedicated to energizing modern life through its diverse portfolio of regulated electric and natural gas utilities and related businesses. According to InvestingPro analysis, the company maintains a GOOD financial health score, with 8 additional exclusive insights available to subscribers.

The final voting results from the Annual Meeting will be filed and can be accessed on www.sedarplus.com. This move ensures transparency and allows shareholders and interested parties to review the outcomes in detail.

The re-election of the board signifies continuity in Emera’s strategic approach and operational oversight. The company’s common and preferred shares are traded on the Toronto Stock Exchange, where investors can engage with the company’s financial progress. Trading near its 52-week high, Emera offers a compelling 4.74% dividend yield and has maintained dividend payments for 34 consecutive years. InvestingPro subscribers can access comprehensive analysis, including Fair Value estimates and detailed financial metrics, through the exclusive Pro Research Report available for this stock.

The information for this article is based on a press release statement provided by Emera Inc.

In other recent news, Emera Incorporated delivered a strong performance in the first quarter of 2025, with earnings per share (EPS) of $1.28, surpassing analyst expectations of $0.9353. This represents a 68% increase from the previous year, despite a slight revenue miss, where they reported $2.09 billion against a forecast of $2.15 billion. Emera also reported a 37% increase in operating cash flow, largely driven by their regulated utilities and Emera Energy. The company is maintaining its guidance of 5-7% annual earnings growth through 2027, supported by a $3.4 billion capital plan for 2025. Additionally, Emera raised its earnings guidance for Emera Energy to between $35-45 million, reflecting confidence in its operational capabilities. Analyst firms have noted the company’s strong operational performance, with S&P returning its outlook to stable. The regulatory process for the sale of New Mexico Gas is ongoing, with a hearing scheduled in June. These recent developments underscore Emera’s strategic focus on capital deployment and customer affordability.

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