The Globe and Mail reports in its Saturday, Oct. 10, edition that Emera, a former dividend heavyweight, is positioning itself as a global powerhouse with growth aspirations, following its merger with Canadian Utilities. The Globe's David Berman writes that the key reason to avoid utilities, however, is the challenging backdrop of bond yields reaching 24-year highs. The rising yield diminishes the appeal of dividend stocks, which has been a weight on Emera and peers such as Fortis and Hydro One. The utilities sector has declined more than 10 per cent since July, ending a hot streak that persisted over much of the past three years. Today, you can pick off unpopular dividend stocks as share prices fall. Mr. Berman, however, says you're taking a risk: Valuations are still elevated. Dividend yields are not much higher than their recent lows, at an average of 3.5 per cent in the case of utilities. So far, Emera's deal with Canadian Utilities hasn't halted the stock's selloff. Emera's has slumped 16 per cent since late July, which is in line with Hydro One but significantly worse than Fortis. Mr. Berman notes that Emera is cheaper than its peers and comes with a spiffier dividend.