Ex-Div Reminder for Emera Series E Cumulative Redeemable First Preferred Shares
On 10/28/16, Emera Inc.'s Series E cumulative redeemable first preferred shares (TSX: EMA-PRE.TO ) will trade ex-dividend, for its quarterly dividend of $0.2812, payable on 11/15/16. As a percentage of EMA.PRE's recent share price of $22.97, this dividend works out to approximately 1.22%, so look for shares of EMA.PRE to trade 1.22% lower - all else being equal - when EMA.PRE shares open for trading on 10/28/16. On an annualized basis, the current yield is approximately 4.91%.
As of last close, EMA.PRE was trading at a 8.44% discount to its liquidation preference amount. The chart below shows the one year performance of EMA.PRE shares, versus EMA:
Below is a dividend history chart for EMA.PRE, showing historical dividends prior to the most recent $0.2812 on Emera Inc.'s Series E cumulative redeemable first preferred shares:
According to the ETF Finder at ETF Channel, Emera Inc. (TSX: EMA.TO ) makes up 1.66% of the SPDR S&P International Utilities Sector ETF ( IPU ) which is trading relatively unchanged on the day Wednesday.
In Wednesday trading, Emera Inc.'s Series E cumulative redeemable first preferred shares (TSX: EMA-PRE.TO ) is currently up about 0.3% on the day, while the common shares (TSX: EMA.TO ) are down 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.