Topic: How To Invest

Dividend Advisor Hotline – Friday, May 27, 2022

Article Excerpt

EMERA INC., $63.32, 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 2021 payment. Investors now receive $0.6625 a share, up 3.9% from $0.6375. The new annual rate of $2.65 yields a high 4.2%. The company’s revenue in the three months ended March 31, 2022, rose 25.0%, to $2.02 billion from $1.61 billion a year earlier. That beat the consensus forecast of $1.78 billion. If you factor out $142 million in accounting losses from its energy trading business, revenue in the quarter increased $262 million. That gain is mainly due to higher power and gas rates at its operations in Tampa and New Mexico. Excluding unusual items, earnings fell 0.4%, to $242 million from…