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Emera Incorporated Announces Dividend Rates for Series J and Series K First Preferred Shares

EMATSX:EMATSX:EMA.PR.ATSX:EMA.PR.BTSX:EMA.PR.CTSX:EMA.PR.ETSX:EMA.PR.FTSX:EMA.PR.HTSX:EMA.PR.JTSX:EMA.PR.L
  • Emera announced applicable dividend rates for Series J and Series K preferred shares payable if declared by the Board.
  • Series J Shares carry a 6.345% annual fixed rate ($0.3966 per quarter) calculated as the Government of Canada bond yield plus 3.28% as of April 15, 2026.
  • Series J dividends are payable quarterly on February 15, May 15, August 15, & November 15 from May 15, 2026 through May 14, 2031.
  • Series K Shares carry a 5.598% floating rate ($0.3528 per share) for the quarter starting May 15, 2026, calculated as the three-month Government of Canada treasury bill yield plus 3.28%.
  • Series K dividends are payable quarterly, with the first payment scheduled for August 15, 2026, & rates reset every quarter.
  • Series J holders have an option to convert shares one-for-one into Series K shares on the Conversion Date of May 15, 2026.
  • Conversion is subject to conditions where Series J holders lose conversion rights if fewer than 1,000,000 Series K shares would remain outstanding, while all remaining Series J shares automatically convert if fewer than 1,000,000 Series J shares would remain.
  • The conversion period runs from April 15, 2026, until 5:00 p.m. (EDT) on April 30, 2026.
  • Holders must communicate conversion instructions through their broker or nominee before the deadline to avoid retaining Series J shares.
  • Unconverted Series J shares will retain their new fixed dividend rate & offer a future conversion opportunity on May 15, 2031, & every five years thereafter.
  • Emera is a North American energy provider headquartered in Halifax, Nova Scotia, serving 2.7 million customers with 7,800 employees.