Topic: How To Invest

Dividend Advisor Hotline – Friday, September 30, 2022

Article Excerpt

EMERA INC., $55.89, 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 will now raise your quarterly dividend by 4.2%. Starting with the November 2022 payment, investors will receive $0.69 a share instead of $0.6625. The new annual rate of $2.76 yields a high 4.9%. The company now plans to increase your annual dividend rate by 4% to 5% each year through 2025. Emera is still evaluating the damage to its operations in Nova Scotia caused by Hurricane Fiona. Based on its experience with Hurricane Dorian in 2019, provincial power regulators will probably let it recoup some of those costs through higher rates. Regulators should also let the company raise rates to offset damage caused by Hurricane Ian to its operations…