Topic: How To Invest

Dividend Advisor Hotline – Friday, May 22, 2020

Article Excerpt

EMERA INC., $52.65, Toronto symbol EMA, is a buy. The company owns 100% of Nova Scotia Power, that province’s main electricity supplier. Emera’s other businesses, however, extend well past that: it also owns and invests in power plants and gas pipelines in the U.S. and the Caribbean. They include the company’s July 2016 purchase of Teco Energy for $13.9 billion. That firm supplies electricity and natural gas to customers in Tampa Bay, Florida, and New Mexico. Emera last raised your quarterly dividend with the November 2019 payment. Investors now receive $0.6125 a share, up 4.3% from $0.5875. The new annual rate of $2.45 yields a high 4.7%. In March 2020, the company completed the sale of Emera Maine to ENMAX Corp., the utility company owned by the City of Calgary. Emera received $959 million U.S. for that business. ENMAX will also assume $500 million U.S. in debt, bringing the total value of the deal to roughly $1.8 billion U.S. The sale of Emera Maine is…