Nstar Hikes Annual Dividend 7.4%

It's now $1.30 a share.
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Nstar

(NST)

said Thursday it will increase its annual dividend rate 7.4% from the previous rate, to $1.30 a share.

The Boston-based energy delivery company said it will pay a quarterly dividend of 32.5 cents a share, payable Feb. 1, 2007 to shareholders of record Jan. 10, 2007.

''We have delivered solid earnings growth in the past and we believe that we can achieve a long-term earnings growth rate of between 6 and 8 percent,'' the company said. ''With a current dividend payout ratio of about 63%, we are well positioned to provide consistent, sustainable dividend growth for investors."

The shares of Nstar were trading up 17 cents, or 0.5%, to $35.25 Thursday.

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