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Common Stock
 12 Months Ended
Dec. 31, 2024
Common Stock [Abstract]  
Common Stock
12. COMMON STOCK
Authorized
: Unlimited number of non-par value common shares.
2024
2023
Issued and outstanding:
millions
of shares
 
millions of
dollars
millions of
shares
 
millions of
dollars
Balance, January 1
 
284.12
$
 
8,462
 
269.95
$
 
7,762
Issuance of common stock under ATM program
(1)(2)
 
5.12
 
261
 
8.29
 
397
Issued under the DRIP,
 
net of discounts
 
6.10
 
291
 
5.26
 
272
Senior management stock options exercised and Employee Share
Purchase Plan
 
0.60
 
28
 
0.62
 
31
Balance, December 31
 
295.94
$
 
9,042
 
284.12
$
 
8,462
(1) For the year ended December 31, 2023, a
 
total of
8,287,037
 
common shares were issued under Emera's ATM program at an
average price of $
48.27
 
per share for gross proceeds of $
400
 
million ($
397
 
million net of after-tax issuance costs).
(2) For the year ended December 31, 2024, a
 
total of
5,117,273
 
common shares were issued under Emera's ATM program at an
average price of $
51.52
 
per share for gross proceeds of $
264
 
million ($
261
 
million net of after-tax issuance costs). As at December
31, 2024, an aggregate gross sales limit of $
336
 
million remained available for issuance under the
 
ATM program.
As at December 31, 2024, the following common shares
 
were reserved for issuance:
6
 
million (2023 –
6
million) under the senior management stock option plan,
2
 
million (2023 –
2
 
million) under the employee
common share purchase plan and
12
 
million (2023 –
18
 
million) under the DRIP.
 
The issuance of common shares under the common share compensation
 
arrangements does not allow
the plans to exceed
10
 
per cent of Emera's outstanding common shares. As at
 
December 31, 2024,
Emera was in compliance with this requirement.
ATM Equity Program
On November 18, 2024, Emera increased the size of
 
the ATM Program to
 
allow the Company to issue up
to $
1
 
billion of common shares from treasury to the public from
 
time to time, at the Company's discretion,
at the prevailing market price. The ATM
 
Program was increased by an amendment dated November 18,
2024 to its prospectus supplement dated November 14, 2023 and
 
an amendment dated November 13,
2024 to its short form base shelf prospectus dated October 3,
 
2023.