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Non-Controlling Interest in Subsidiaries
12 Months Ended
Dec. 31, 2022
29. Non-Controlling Interest in Subsidiaries  
Non-Controlling Interest in Subsidiaries
29.
 
NON-CONTROLLING INTEREST IN SUBSIDIARIES
As at
December 31
December 31
millions of dollars
 
2022
2021
Preferred shares of GBPC
 
$
 
14
$
 
14
Domlec
(1)
-
 
 
20
$
 
14
$
 
34
(1) On March 31, 2022, Emera disposed its interest in Domlec. For further details, refer to note 4.
Preferred shares of GBPC:
Authorized:
10,000
 
non-voting cumulative redeemable variable perpetual preferred shares.
2022
2021
Issued and outstanding:
number of
shares
millions of
dollars
number of
shares
millions of
dollars
Outstanding as at December 31
10,000
$
 
14
10,000
$
 
14
GBPC Non–Voting Cumulative Variable Perpetual Preferred Stock:
The preferred shares are redeemable by GBPC after June 17, 2021
, at $
1,000
 
Bahamian per share plus
accrued and unpaid dividends and are entitled to a
6.0 per cent per annum fixed cumulative preferential
dividend to be paid semi-annually
.
 
The Preferred Shares rank behind GBPC’s current and future secured and unsecured debt and ahead of
all of GBPC’s current and future common stock.