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Security Details
- Coupon Rate
- 6.43%
- Liquidation Preference
- $25.00
- Call Price
- $25.00
- Call / Redemption Date
- 8/15/2023
- Maturity Date
- None
- Distribution Period
- Q
- Rate Type
- Reset Rate
- Annual Distribution
- 1.18
- Distribution Dates
- 2/15, 5/15, 8/15 & 11/15
- Credit Ratings
- Moody's NR · S&P BB+ (4/18/2025)
- Tax-Advantaged Dividends
- No
Security Profile
- CUSIP
- 290876507
- IPO
- 5/31/2012
- Parent Company
- Emera Inc (EMRAF)
Business: Emera Inc., Cumulative Rate Reset First Preferred Shares, Series C, liquidation preference $25 Canadian dollars per share, redeemable at the issuer's option on 08/15/2018 and every August 15th in every fifth year thereafter at $25 Canadian dollars per share plus accrued and unpaid dividends, and with no stated maturity. <p> Cumulative distributions of the Annual Fixed Dividend Rate will be paid quarterly on 2/15, 5/15, 8/15 & 11/15 to holders of record on the record date fixed by the board prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). The Annual Fixed Dividend Rate will be 4.10% until the first redemption date, then it will be equal to the sum of the 5yr non-callable Government of Canada bond on the applicable fixed rate calculation date plus 2.65%, resetting every 5 years thereafter on applicable fixed rate calculation date (see prospectus for more details). </p> On 08/15/2018 and every August 15th in every fifth year there after the holder will have the right to convert their Emera Inc. Cumulative Rate Reset First Preferred Shares, Series C shares into Emera Inc. Floating Rate Cumulative First Preferred Shares, Series D (see prospectus for more details).
Notes: Emera Incorporated (“Emera” or the “Company”) (TSX: EMA) announced today the applicable dividend rates for its Cumulative Rate Reset First Preferred Shares, Series C of 6.4340% per annum on the Series C Shares ($0.40213 per Series C Share per quarter), being equal to the sum of the Government of Canada bond yield as at July 17, 2023, plus 2.65%, payable quarterly on the 15th of February, May, August and November of each year during the five-year period commencing on August 15, 2023 and ending on (and inclusive of) August 14, 2028. July 16, 2018 -- Emera Incorporated (“Emera” or the “Company”) (TSX: EMA) announced today the applicable dividend rates for its Cumulative Rate Reset First Preferred Shares, Series C (the “Series C Shares”) and Cumulative Floating Rate First Preferred Shares, Series D (the “Series D Shares”), in each case, payable if, as and when declared by the Board of Directors of the Company:
4.721% per annum on the Series C Shares ($0.29506 per Series C Share per quarter), being equal to the sum of the Government of Canada bond yield as at July 16, 2018, plus 2.65%, payable quarterly on the 15th of February, May, August and November of each year during the five-year period commencing on August 15, 2018 and ending on (and inclusive of) August 14, 2023; and
4.1140% on the Series D Shares of the Company (the “Series D Shares”) for the three-month period commencing on August 15, 2018 and ending on (and inclusive of) November 14, 2018 ($0.25924 per Series D Share for the quarter), being equal to the sum of the three-month Government of Canada treasury bill yield rate as at July 16, 2018, plus 2.65% (calculated on the basis of the actual number of days elapsed during the quarter divided by 365), payable on the 15th of November 2018. The quarterly floating dividend rate will be reset every quarter. <p> All Pricing is in Canadian Dollars.
Company Contact
- CEO
- Scott Balfour
- CFO
- Greg Blunden
- Headquarters
- 5151 Terminal Road, Halifax, Nova Scotia, Canada B3J 1A1
- Phone
- 902-428-6096
- Investor Relations
- 800-358-1995 · investors@emera.com