- Adjusted earnings per share increase 6.5% to $0.33 per share in the quarter and 12.7% to $1.51 YTD.
- Adjusted net income increased 8.6% to $48.0 million this quarter and 15% to $219.6 million YTD.
With the release of the earnings, the company also announced a dividend increase of 18.75% starting with the first payment in Nov 2015. Emera also announced their goal is to grow the dividend at a rate of 8% annually through to 2019, which was the goal originally was 6% annually. Emera is also scheduled to pay a dividend on August 17, 2015.
The dividend increase from $1.60 a share to $1.90 a share adds $30.00 to my annual dividend income. What did I have to do to receive this raise? I had to do nothing except be a shareholder in this wonderful business. Everyone needs electricity to help live their lives these days. If I assumed a 3.5% yield, this $30.00 a year in dividends, would be equivalent of investing $857.14 of my own money.
I will happily take an 18.75% dividend raise. It would be difficult to get that type of raise at a job in any given year.
Disclosure: Long EMA