Saturday, October 2, 2021

Dividend Increase #66 of 2021 - Emera Inc. (TSX: EMA)



Friday, September 24th the Board of Emera Inc. (TSX: EMA) announced a quarterly dividend increase of from CA$ 0.6375 to CA$ 0.6625 per share that’s payable November. This represents a 3.92% increase over the last quarterly dividend.


“We continue to see opportunity for growth as we execute on our strategy of investing in a lower carbon energy transition that is affordable and reliable for our customers,” said Scott Balfour, President and CEO of Emera Inc. “These investments are expected to continue to drive cash flow and EPS growth, which supports the increase in our dividend for 2022 and the extension of our dividend growth target of four to five percent through 2024.”


With current price CA$ 57.43 (Friday's close), this raise brings their dividend yield to 4.61%.


Emera Inc. is a member of Canadian Dividend All Star List with a 15 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 4.2, 5.1, 8.3 and 7.8 (Canadian Dividend All-Star List)



Since I own 130 shares of EMA, this will increase my portfolio's projected annual net dividend income by $ 7.65.


I was hoping for an increase at the upper end of expectations, so an increase of less than 4% was a bit disappointing for me.


This is the fifth dividend increase I received from Emera Inc. since initiating a position October 2016. (More here) During this period, the quarterly dividend has risen marginally from CA$ 0.5225 to CA$ 0.6625, or 26.8 percent.


This increase raises my YOC to 5.62%.



Summary of 2021 Dividend Increases / Cuts



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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