Topic: How To Invest

Dividend Advisor Hotline – Friday, November 24, 2017

Article Excerpt

EMERA INC., $48.63, Toronto symbol EMA, owns 100% of Nova Scotia Power—the province’s main electricity supplier. It also owns power utilities in the U.S. and the Caribbean. Emera will raise its quarterly dividend by 8.1%, starting with the November 2017 payment. Investors will then receive $0.565 a share, up from $0.5225. The new annual rate of $2.26 yields a high 4.6%. In July 2016, the company completed its purchase of Teco Energy for $13.9 billion. This firm supplies electricity and natural gas to customers in Tampa Bay, Florida. It also distributes gas in New Mexico. Excluding costs related to the Teco purchase, Emera earned $118 million, or $0.55 a share, in the three months ended September 30, 2017. That missed the consensus estimate for $0.72. The lower earnings are mainly due to losses on natural gas hedging contracts at its energy-trading subsidiary. A year earlier, it earned $133 million, or $0.73. Revenue in the quarter rose 2.9%, to $1.43 billion from $1.39 billion. The…