Markets

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

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.


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

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