Friday, September 18, 2020

Dividend Increase – Emera Inc. (TSE:EMA)



On Wednesday, September 16th the Board of Directors of Emera Inc. announced a quarterly dividend increase of from CA$ 0.6125 to CA$ 0.6375 per share that’s payable November 15, 2020 to holders of record November 1, 2020. This represents a 4.08% increase over last quarterly dividend.


“Emera’s overall business continues to perform well despite the challenges of the global COVID-19 pandemic,” said Scott Balfour, President and CEO of Emera Inc. “We are pleased to be in a position to increase our dividend at a level consistent with our target growth rate, and to reaffirm our dividend growth rate target of four to five percent through to 2022.”


With current price CA$ 54.18 (today's open), this raise brings their dividend yield to 4.71%.


Emera is a member of Canadian Dividend All Star List with a 13 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 4.1, 6.0, 10.0 and 8.7. (Canadian Dividend All-Star List)




Since I own 130 shares of EMA, this will increase my portfolio's projected annual net dividend income by CA$ 9.69.


This increase raises my YOC to 5.41%.





Summary of 2020 Dividend Increases / Cuts




As you can see, some large dividend cuts will have the effect that full-year growth will be negative. I also believe that there will come more cuts during this year.



Click here to see my portfolio holdings.


You can follow the development of my dividends here.


Full Disclosure: Long EMA


Thanks for stopping by!


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