Today, Nova Scotia Power Incorporated (the “Company”) announced that
effective October 15, 2015 (the “Redemption Date”) the Company will
redeem all of its outstanding Cumulative Redeemable First Preferred
Shares, Series D (the “Series D Shares”) for a redemption price of
$25.00 per share. In addition, on July 10, 2015, the Company declared a
dividend on the Series D Shares in the amount of $0.36875 per share for
the quarter ending on September 30, 2015. The dividend will be paid in
the usual manner on October 15, 2015 to holders of record on October 1,
2015.
Beneficial holders of the Series D Shares should contact the financial
institution, broker or other intermediary through which they hold the
Series D Shares to confirm how they will receive their redemption
proceeds.
After the Redemption Date, holders of the Series D Shares will cease to
be entitled to dividends or to exercise any rights of shareholders.
About Nova Scotia Power
Nova Scotia Power Incorporated, is a wholly-owned subsidiary of Emera
Incorporated (TSX:EMA), a geographically diverse energy and services
company headquartered in Halifax, Nova Scotia. Nova Scotia Power
Incorporated is a fully-integrated regulated electric utility with
approximately $4.4 billion of assets and is the primary electricity
supplier in Nova Scotia. Nova Scotia Power Incorporated provides
electricity generation, transmission and distribution services to
approximately 505,000 customers.
Forward Looking Information
This news release contains forward-looking information with respect to
Nova Scotia Power Incorporated and the Series D Shares. By its nature,
forward-looking information requires Nova Scotia Power Incorporated to
make assumptions and is subject to inherent risks and uncertainties.
There is risk that predictions, forecasts, conclusions and projections
that constitute forward-looking information will not prove to be
accurate, that Nova Scotia Power Incorporated’s assumptions may not be
correct and that actual results may differ materially from such
forward-looking information. Detailed information about these
assumptions, risks and uncertainties is included in Nova Scotia Power
Incorporated’s securities regulatory filings, which can be found on
SEDAR at www.sedar.com.
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