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Press release from Business Wire

Emera Approves Increase in Common Dividend and Declares Preferred Dividends

Friday, September 28, 2012

Emera Approves Increase in Common Dividend and Declares Preferred Dividends16:06 EDT Friday, September 28, 2012 HALIFAX, Nova Scotia (Business Wire) -- Today, the Board of Directors of Emera Inc. (TSX:EMA) approved an increase in the annual common share dividend rate to $1.40 from $1.35 per common share. The first quarterly dividend payment, of $0.35 per common share, is payable on and after November 15, 2012 to common shareholders of record at the close of business on November 1, 2012. “We are pleased to increase our dividend, which is supported by Emera's growing cash flows from operations,” said Chris Huskilson, President and Chief Executive Officer of Emera Inc. The Board of Directors also approved a quarterly dividend of $0.2750, or $1.10 annually, per Series A First Preferred Share, payable on and after November 15, 2012, to Series A First Preferred shareholders of record at the close of business on November 1, 2012; and a first quarterly dividend of $0.25625 per Series C First Preferred Share payable on and after November 15, 2012 to Series C First Preferred shareholders of record at the close of business on November 1, 2012. Pursuant to the Income Tax Act (Canada) and corresponding provincial legislation, Emera Inc. hereby notifies its common shareholders, its Series A First Preferred shareholders, and its Series C First Preferred shareholders that such dividends declared qualify as eligible dividends. Forward Looking Information This news release contains forward looking information. Actual future results may differ materially. Additional information related to Emera, including the company's Annual Information Form, can be found on SEDAR at www.sedar.comor onEDGAR at www.sec.gov.About Emera Emera Inc. is an energy and services company with $7.4 billion in assets and 2011 revenues of $2.1 billion. The company invests in electricity generation, transmission and distribution, as well as gas transmission and utility energy services. Emera's strategy is focused on the transformation of the electricity industry to cleaner generation and the delivery of that clean energy to market. Emera has interests throughout northeastern North America, in three Caribbean countries. More than 80% of the company's earnings come from regulated investments. Emera common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, and EMA.PR.C. Additional information can be accessed at www.emera.com, www.sedar.com, or on www.sec.gov. Emera Inc.Jill MacDonald, CAManager, Investor Relations(902) 428-6486