Friday, September 26th, Emera Inc. came out with an announcement. Emera announced they are increasing the annual dividend to $1.55 a year, or 0.3875 per share. This represents a increase of 6.9% over the old annual dividend of $1.45 a year. Emera target goal when it comes to the annual growth of the dividend is 6% for the next 5 years.
What is Emera and what does the company do?
Emera Inc. is an energy and services company that is headquartered in Halifax, Nova Scotia. The company currents has over $9.07 Billion in assets. The company is involved in the electricity generation, transmission and distribution as well as gas transmission and utility energy services. Emera owns 100% of Nova Scotia Power. They basically have a monopoly in that province. The distribution of power in the province is over their transmission lives. So if another company
generates energy in Nova Scotia they must sell it to Nova Scotia Power as they own all the transmission lines in the province. Emera Inc also has other companies in the power field such as Bangor Power and places in the Caribbean.
People need electrically to live their lives such as to cook, television, phones, cell phones, and the other comforts of life. So this company will do well in good times and bad times as electricity is a "necessity" of life. So I feel comfortable owning this stock going forward.
Disclosure: Long EMA.