Friday, September 22, 2023

Dividend Increase - Emera Inc. (TSE: EMA)


Wednesday, September 20th the Board of Directors of Emera Inc. (TSE: EMA) announced a quarterly dividend increase of from C$0.69 to C$0.7175 per share that’s payable November 15, 2023 to holders of record November 1, 2023. This represents a 3.39% increase over the last quarterly dividend.

“Today’s dividend increase is in line with our dividend growth rate target of four to five per cent and reflects our continued confidence in our assets, our strategy and the strength of our business,” said Scott Balfour, President and CEO of Emera Inc. “We remain focused on executing a balanced energy transition that drives value for our customers and generates reliable returns for our shareholders.”

With current price C$50.47 (yesterday's close), this raise brings their dividend yield to 5.69%.

Emera is a member of Canadian Dividend All Star List with a 17 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 4.0, 4.1, 4.7 and 7.0 (Canadian Dividend All-Star List)

Since I own 140 shares of EMA, this will increase my portfolio's projected annual net dividend income by $8.52.

The increase was in line with my expectations.

This is the seventh dividend increase I received from Emera since initiating a position October 2016. During this period, the quarterly dividend has increased modestly from CA$0.523 to CA$0.7175, or 37.2%.

This increase raises my YOC to 4.82%.

Summary of 2023 Dividend Increases / Cuts

Click here to see my portfolio holdings.

You can follow the development of my dividends here.

Full Disclosure: Long EMA

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