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ERRAF - Emera: The Impact Of COVID-19 Is Not Material For This 4.5%-Yielding Stock
Emera Inc. Cum Pfd 5 Yr Rate Reset Ser C
Investment Thesis
Emera (EMRAF) (TSX: "EMA") has a C$7.5 billion capital projects that it plans to invest in the next 3 years to grow its rate base and dividend. The company has not been impacted materially by the outbreak of COVID-19 as it has a high residential exposure in its major service territory, Florida, which helps to offset decline in industrial and commercial loads. Emera has a strong balance sheet to fund its capital projects with a healthy capital structure. The company currently pays a 4.5%-yielding dividend and it plans to grow its