Topic: How To Invest

Dividend Advisor Hotline – Friday, August 13, 2021

Article Excerpt

EMERA INC., $59.17, Toronto symbol EMA, is a buy. The company owns 100% of Nova Scotia Power, that province’s main electricity supplier. It also owns 100% of Tampa Electric, which provides electricity to more than 765,000 customers. Its other interests include several power plants and natural gas pipelines in the U.S. and the Caribbean. Emera last raised your quarterly dividend with the November 2020 payment. Investors now receive $0.6375 a share, up 4.1% from $0.6125. The new annual rate of $2.55 yields a high 4.3%. The company’s revenue in the three months ended June 30, 2021, fell 2.7%, to $1.14 billion from $1.17 billion a year earlier. That missed the consensus forecast of $1.32 billion. However, if you factor out $124 million in accounting losses from its energy trading business, revenue in the quarter increased $92 million. That gain is mainly due to higher power and gas rates at its operations in Tampa. Excluding unusual items, earnings rose 16.1%, to $137 million from $118 million…

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