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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Emera Incorporated    EMA   CA2908761018

EMERA INCORPORATED

(EMA)
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Emera Incorporated : Announces Results of Series A and Series B First Preferred Shares Conversion

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08/18/2020 | 10:58am EDT

Emera Incorporated ('Emera') (TSX: EMA) announced today that 128,610 of its 3,864,636 issued and outstanding Cumulative Rate Reset First Preferred Shares, Series A (the 'Series A Shares') were tendered for conversion, on a one-for-one basis, into Cumulative Floating Rate First Preferred Shares, Series B (the 'Series B Shares') and that 1,130,788 of its 2,135,364 issued and outstanding Series B Shares were tendered for conversion, on a one-of-one basis, into Series A Shares.

As a result of the conversion, Emera has 4,866,814 Series A Shares and 1,133,186 Series B Shares issued and outstanding. The Series A Shares and the Series B Shares will continue to be listed on the Toronto Stock Exchange ('TSX') under the symbols EMA.PR.A and EMA.PR.B, respectively.

Forward Looking Information

This news release contains forward-looking information within the meaning of applicable securities laws with respect to Emera, the Series A Shares and the Series B Shares. By its nature, forward-looking information requires Emera to make assumptions and is subject to inherent risks and uncertainties. These statements reflect Emera management's current beliefs and are based on information currently available to Emera management. There is a risk that predictions, forecasts, conclusions and projections that constitute forward-looking information will not prove to be accurate, that Emera's assumptions may not be correct and that actual results may differ materially from such forward-looking information. Additional detailed information about these assumptions, risks and uncertainties is included in Emera's securities regulatory filings, including under the heading 'Business Risks and Risk Management' in Emera's annual Management's Discussion and Analysis, and under the heading 'Principal Risks and Uncertainties' in the notes to Emera's annual and interim financial statements, which can be found on SEDAR at www.sedar.com.

About Emera

Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $32 billion in assets and 2019 revenues of more than $6.1 billion. The company primarily invests in regulated electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments throughout North America, and in four Caribbean countries. Emera's common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F and EMA.PR.H. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB.

Contact:

Ken McOnie

Tel: 902 428 6945

Email: ken.mconie@emera.com

(C) 2020 Electronic News Publishing, source ENP Newswire


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Financials
Sales 2020 5 971 M 4 485 M 4 485 M
Net income 2020 931 M 699 M 699 M
Net Debt 2020 16 870 M 12 670 M 12 670 M
P/E ratio 2020 16,9x
Yield 2020 4,48%
Capitalization 13 753 M 10 456 M 10 330 M
EV / Sales 2020 5,13x
EV / Sales 2021 5,03x
Nbr of Employees 7 523
Free-Float 98,0%
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 59,88 CAD
Last Close Price 55,36 CAD
Spread / Highest target 17,4%
Spread / Average Target 8,16%
Spread / Lowest Target -16,9%
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NameTitle
Scott Carlyle Balfour President, Chief Executive Officer & Director
Mary Jacqueline Sheppard Chairman
Richard C. Janega Chief Operating Officer-Electric Utilities
Gregory W. Blunden Chief Financial Officer
Andrea Sarah Rosen Independent Director
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