Business
Emera Reports Record Earnings
Emera Reports Record Earnings
About this update from Emera Incorporated
[{"type":"text","content":"\n\n\n\n Nov. 5, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nHALIFAX, Nov. 5 /CNW/ - (EMA-TSX): Emera Inc.'s consolidated net earnings were $44.8 million or $0.39 per\n share in Q3 2010, compared to $37.3 million or $0.33 per share in the\n third quarter of 2009.  Mark-to-market accounting adjustments were\n immaterial in both Q3 2010 and Q3 2009. In the first nine months of the\n year, net earnings increased to $151.5 million or $1.33 per share\n compared to $138.2 million or $1.23 per share for the same period in\n 2009. Excluding the effect of mark-to-market accounting adjustments in\n Bear Swamp, net earnings were $157.5 million or $1.38 per share,\n compared to $140.7 million or $1.25 per share for the same period in\n 2009.\n\n\n"We are very pleased with the success of our strategy and the effect it\n is having on our earnings.  As a result of our earnings growth and our\n payout objectives, the Board increased our common share dividend by 15%\n in September," said Chris Huskilson, President and CEO of Emera.  "In\n the quarter, we advanced the transaction with Maine and Maritimes\n Corporation as well as the transaction with NV Energy. In addition, the\n UARB approved the proposed biomass project with New Page Port\n Hawkesbury, which is another step in our journey to become a cleaner\n energy company".\n\n\nNova Scotia Power Inc. (NSPI) earnings were $22.4 million in Q3 2010,\n compared to $16.6 million in Q3 2009.  This incre...