EMERA INC. $36 - Toronto symbol EMA

EMERA INC. $36 (Toronto symbol EMA; Income Portfolio, Utilities sector; Shares outstanding: 142.6 million; Market cap: $5.1 billion; Price-to-sales ratio: 1.8; Dividend yield: 4.3%; TSINetwork Rating: Average; www.emera.com) is Nova Scotia’s main power supplier. It also holds interests in electrical utilities in the U.S. and the Caribbean.

The company has raised its quarterly dividend by 6.9%, to $0.3875 a share from $0.3625. The new annual rate of $1.55 yields 4.3%.

In addition, Emera announced that it expects to increase its dividend by 6% annually for the next five years.

Emera is a buy.

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