Emera Incorporated’s board of directors approved an increase in the quarterly common share dividend to $0.74 per share. The new annualized rate is $2.96 per share, up 1% from the previous dividend.
President and CEO Scott Balfour said this marks the company’s 20th consecutive year of dividend growth, attributing the increases to the strength of its business.
Management said forecast rate base growth of 7–8% supports the dividend growth. The company is targeting average adjusted earnings per share growth of 5–7% through 2030, as part of its strategy of disciplined financial management.