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Cumulative Preferred Stock (Tables)
 12 Months Ended
Dec. 31, 2024
Cumulative Preferred Stock [Abstract]  
Summary of Cumulative Preferred Stock
Authorized:
Unlimited number of First Preferred shares, issuable in
 
series.
Unlimited number of Second Preferred shares, issuable in
 
series.
December 31, 2024
December 31, 2023
Annual Dividend
Redemption
Issued and
Net
Issued and
Net
 
Per Share
Price per share
Outstanding
Proceeds
Outstanding
Proceeds
Series A
$
0.5456
$
25.00
4,866,814
$
 
119
4,866,814
$
 
119
Series B
Floating
$
25.00
1,133,186
$
 
28
1,133,186
$
 
28
Series C
$
1.6085
$
25.00
10,000,000
$
 
245
10,000,000
$
 
245
Series E
$
1.1250
$
25.00
5,000,000
$
 
122
5,000,000
$
 
122
Series F
$
1.0505
$
25.00
8,000,000
$
 
195
8,000,000
$
 
195
Series H
$
1.5810
$
25.00
12,000,000
$
 
295
12,000,000
$
 
295
Series J
$
1.0625
$
25.00
8,000,000
$
 
196
8,000,000
$
 
196
Series L
$
1.1500
$
26.00
9,000,000
$
 
222
9,000,000
$
 
222
Total
58,000,000
$
 
1,422
58,000,000
$
 
1,422
Characteristics of the First Preferred Shares:
First Preferred Shares
(1)(2)
Annual
Dividend
Rate
(%)
Current
Annual
Dividend
 
($)
Minimum
 
Reset
Dividend
Yield (%)
Earliest Redemption
and/or Conversion
Option Date
Redemption
Value
 
($)
Right to
Convert on
a one for
one basis
Fixed rate reset
(3)(4)
 
Series A
2.182
0.5456
1.84
August 15, 2025
25.00
 
Series B
 
Series C
6.434
1.6085
2.65
August 15, 2028
25.00
 
Series D
 
Series F
(5)(6)
4.202
1.0505
2.63
February 15, 2025
25.00
 
Series G
Minimum rate reset
(3)(4)
 
Series B
2.393
Floating
1.84
August 15, 2025
25.00
 
Series A
 
Series H
6.324
1.5810
4.90
August 15, 2028
25.00
 
Series I
 
Series J
4.250
1.0625
4.25
May 15, 2026
25.00
 
Series K
Perpetual fixed rate
 
Series E
(7)
4.500
1.1250
 
25.00
 
 
Series L
(8)
4.600
1.1500
November 15, 2026
26.00
 
(1) Holders are entitled to receive fixed or
 
floating cumulative cash dividends when declared
 
by the Board of Directors of the Corporation.
(2) On or after the specified redemption dates,
 
the Corporation has the option to redeem
 
for cash the outstanding First Preferred Shares,
 
in
whole or in part, at the specified per share redemption
 
value plus all accrued and unpaid dividends up
 
to but excluding the dates fixed for
redemption.
(3) On the redemption and/or conversion option
 
date the reset annual dividend per share
 
will be determined by multiplying $
25.00
 
per share
by the annual fixed or floating dividend rate,
 
which for Series A, C, F and H is the sum
 
of the five-year Government of Canada
Bond Yield on the applicable reset date, plus the applicable
 
reset dividend yield (Series H annual
 
reset rate must be a minimum of
4.90
 
per
cent) and for Series B equals the Government
 
of Treasury Bill Rate on the applicable reset date,
 
plus
1.84
 
per cent.
(4) On each conversion option date, the holders
 
have the option, subject to certain conditions,
 
to convert any or all of their Shares into an
equal number of Cumulative Redeemable
 
First Preferred Shares of a specified
 
series. The Company has the right to redeem
 
the outstanding Preferred Shares, Series
 
D, Series G and Series I shares without
 
the consent of the holder every five years
 
thereafter for
cash, in whole or in part at a price of
 
$
25.00
 
per share plus all accrued and unpaid dividends
 
up to but excluding the date fixed for redemption
and $
25.50
 
per share plus all accrued and unpaid dividends
 
up to but excluding the date fixed for redemption
 
in the case
of redemptions on any other date after August
 
15, 2028, February 15, 2025 and August
 
15, 2028, respectively. The reset dividend yield for
Series I equals the Government of Treasury Bill Rate on
 
the applicable reset date, plus
2.54
 
per cent.
(5) On January 8, 2025, Emera announced
 
that it would not redeem the outstanding Preferred
 
Shares, Series F on February 15, 2025.
 
During
the conversion period between January 15,
 
2025 and January 31,2025, subject to
 
certain conditions, the holders of Series
 
F shares had the
right, at their option, to convert all or
 
any of their Series F shares, on a one-for-one
 
basis into Cumulative Floating Rate
 
First Preferred Shares,
Series G on February 15, 2025. On February
 
6, 2025, Emera announced after having taken
 
into account all conversion notices received
 
from
holders, no Series F were converted
 
into Series G shares.
(6) On January 16, 2025, Emera announced
 
that the annual fixed dividend per share
 
for Series F shares will be reset from $
1.0505
 
to $
1.4372
for the five-year period from and including
 
February 15, 2025.
(7) First Preferred Shares, Series E are redeemable
 
at $
25.00
 
per share.
(8) First Preferred Shares, Series L are redeemable
 
at $
26.00
 
on or after November 15, 2026 to
 
November 15, 2027, decreasing $
0.25
 
each
year until November 15, 2030 and $
25.00
 
per share thereafter.