« Back

Emera Increases Annual Dividend

January 17, 2008: Halifax , NS : The Board of Directors of Emera Inc. today approved an increase in the annual common share dividend rate to $0.95 from $0.91 per common share. “The board has decided to increase Emera's annual dividend for the second time in six months,” said Chris Huskilson, President and Chief Executive Officer of Emera Inc. “Progress in the second half of 2007 including the start of construction of the Brunswick Pipeline, completion of the Northeast Reliability Interconnect (NRI) transmission line and Bear Swamp 's growing contribution to earnings have contributed to the board's confidence in the sustainability of earnings.”

The Board of Directors also declared a quarterly dividend of $0.2375 per common share. The dividend is payable on and after February 15, 2008 to common shareholders of record at the close of business on February 1, 2008.

Pursuant to the Income Tax Act ( Canada ) and corresponding provincial legislation, Emera Inc. hereby notifies its common shareholders that such dividend declared qualifies as an eligible dividend.

About Emera

(EMA-TSX) is an energy and services company with $4.0 billion in assets. Electricity is Emera's core business. The company has two wholly-owned regulated electric utility subsidiaries, Nova Scotia Power Inc. and Bangor Hydro-Electric Company, which together serve 590,000 customers. Emera also owns 19% of St. Lucia Electricity Services Limited, which serves more than 50,000 customers on the Caribbean island of St. Lucia . In addition to its electric utility investments, Emera has a joint venture interest in Bear Swamp, a 600 megawatt pumped storage hydro-electric facility in northern Massachusetts; a 12.9% interest in the Maritimes & Northeast Pipeline; and Emera Energy Services which manages energy assets on behalf of third parties. Visit Emera on the web at www.emera.com.

Contact:

Nancy Tower FCA
Chief Financial Officer
Emera Inc.
(902) 428-6991

Jennifer Nicholson, CA
Director, Investor Relations and Strategic Development
Emera Inc.
(902) 428-6347