The Northeast Utilities (NYSE: NU) Board of Trustees today approved a quarterly dividend of $0.3675 per share, payable on March 28, 2013, to shareholders of record as of the close of business on March 1, 2013.
The March 2013 dividend represents a 7.1 percent increase over NU’s previous quarterly dividend level.
“This increase underscores our confidence in the company’s financial outlook, while at the same time continuing a conservative payout level that allows us to continue to make very substantial investments in the region’s electric and natural gas infrastructure, which we project will be approximately $1.6 billion in 2013,” said Thomas J. May, NU president and chief executive officer.
May noted that the new annualized dividend rate of $1.47 per share is consistent with NU’s plan to grow its dividend in line with its earnings growth and above the average annual dividend increase for the electric utility industry.
Northeast Utilities (NU) operates New England’s largest energy delivery company. NU and its companies are committed to safety, reliability, environmental leadership and stewardship, as well as expanding energy options for its more than 3.5 million electric and natural gas customers in Connecticut, Massachusetts and New Hampshire. NU is traded on the New York Stock Exchange under the symbol NU and has approximately 314 million common shares outstanding. Learn more about NU and its family of companies at
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