Emera Variable Rate Series A Cumulative Convertible First Preferred Stock Goes Ex-Dividend Soon

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On 4/29/14, Emera Inc.'s Variable rate series A cumulative convertible first preferred stock (TSX: EMA-PRA.TO ) will trade ex-dividend, for its quarterly dividend of $0.275, payable on 5/15/14. As a percentage of EMA.PRA's recent share price of $21.23, this dividend works out to approximately 1.30%, so look for shares of EMA.PRA to trade 1.30% lower - all else being equal - when EMA.PRA shares open for trading on 4/29/14. On an annualized basis, the current yield is approximately 5.19%.

As of last close, EMA.PRA was trading at a 15.08% discount to its liquidation preference amount. It should be noted that the preferred shares are convertible . The chart below shows the one year performance of EMA.PRA shares, versus EMA:

Performance Comparison Chart

Below is a dividend history chart for EMA.PRA, showing historical dividends prior to the most recent $0.275 on Emera Inc.'s Variable rate series A cumulative convertible first preferred stock:

EMA.PRA+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Emera Inc. (TSX: EMA.TO ) makes up 1.04% of the SPDR S&PGlobal Dividend ETF ( WDIV ) which is trading relatively unchanged on the day Friday.

In Friday trading, Emera Inc.'s Variable rate series A cumulative convertible first preferred stock (TSX: EMA-PRA.TO ) is currently trading flat on the day, while the common shares (TSX: EMA.TO ) are up about 0.4%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Investing Ideas


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