By South Florida Business Journal

The dean of the business school at Pittsburgh's Carnegie Mellon University has been appointed to the board of NextEra Energy (NYSE: NEE).

The appointment of Kenneth B. Dunn expands the board of Florida Power & Light's parent by one to 13 members.

Dunn, 58, was appointed the eighth dean of the Tepper School of Business in July 2002 after serving as a professor of finance and economics, NextEra said in a press release. Earlier in his career, Dunn was a partner in the investment firm of Miller Anderson & Sherrerd and managed $75 billion in assets. Dunn stayed with the company after it was acquired by Morgan Stanley in 1996.

"Ken Dunn has been equally successful in the worlds of finance and academia. He has extensive experience as an investment manager, and he helped build one of the best business schools in the world. We are extremely fortunate to have him join our board," said Lew Hay, chairman and chief executive officer of NextEra Energy.

The board of Juno Beach-based NextEra, known until recently as FPL Group, also declared a regular quarterly common stock dividend of 50 cents per share. The dividend is payable Sept. 15 to shareholders of record as of Aug. 27.

Based on NextEra's recent share price, that works out to an annual yield of 3.8 percent.

NextEra closed at $52.28, down 22 cents, on Friday.

In addition to Florida Power & Light, NextEra is the largest producer of solar and wind energy in the United States.

Copyright 2010 American City Business Journals
Copyright 2010