Nova Scotia Power Inc. Approves Preferred Share Quarterly Dividend

HALIFAX, May 10, 2012 /CNW/ - On May 4, 2012 the Board of Directors of Nova Scotia Power Inc. (TSX: NSI.PR.D) approved a quarterly dividend of $0.36875 per Nova Scotia Power Incorporated Series D First Preferred Share for the quarter ending June 30, 2012 payable on and after July 16, 2012 to Series D preferred shareholders of record June 29, 2012.

Pursuant to the Income Tax Act (Canada) and corresponding provincial legislation, Nova Scotia Power Inc. hereby notifies its Series D preferred shareholders that such dividends declared qualify as eligible dividends.

About Nova Scotia Power

Nova Scotia Power Inc. (TSX-NSI.PR.D) has provided electricity to Nova Scotians for more than 80 years. The company provides electricity generation, transmission, and distribution services to almost 490,000 customers in the province. Nova Scotia Power is transforming its generation to reduce its carbon footprint and enable new economic activity by replacing fossil fuels with renewable energy sources. The company has $4.0 billion in assets and approximately 2,000 employees who are dedicated to safe work, enhanced customer service, system reliability and serving their communities. Nova Scotia Power is the largest wholly-owned subsidiary of Halifax-based Emera Inc., whose shares are listed on the Toronto Stock Exchange and trade under the symbols EMA and EMA.PR.A.

Scott Balfour, Executive Vice-President and Chief Financial Officer [phone] or Jill MacDonald, Manager Investor Relations [phone].