Nova Scotia Power Incorporated Announces Redemption of Preferred Shares
HALIFAX, Nova Scotia—- 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150914005649/en/
Nova Scotia Power Incorporated
Scott LaFleur, 902-428-6375