Nova Scotia Power Inc. approves preferred share quarterly dividends

TSX: NSI.PR.D

HALIFAX, May 4 /CNW/ - On May 3, 2010 the Board of Directors of Nova Scotia Power Inc. approved a quarterly dividend of $0.36875 per Nova Scotia Power Incorporated Series D First Preferred Share for the quarter ending June 30, 2010 payable on and after July 15, 2010 to Series D preferred shareholders of record June 30, 2010.

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. is the largest wholly-owned subsidiary of Emera Inc. (TSX-EMA), a diversified energy and services company. Nova Scotia Power provides more than 95% of generation, transmission, and distribution of electrical power to 486,000 customers in the province. The Company is focused on new technologies to enhance customer service and reliability, reduce emissions and add renewable energy. Nova Scotia Power has 1,900 employees and $3.5 billion in assets. Nova Scotia Power Inc. preferred shares are traded on the Toronto Stock Exchange under the symbol NSI.PR.D.

For further information: Nancy Tower, Chief Financial Officer, [phone]; Jennifer Nicholson, Senior Director Stakeholder Relations, [phone]