NSTAR Electric Company Declares Preferred Dividends

The Board of Directors of NSTAR Electric Company declared the following preferred stock dividends payable May 1, 2012 to holders of record as of April 9, 2012:
  • A quarterly dividend of $1.0625 per share on NSTAR Electric Company’s cumulative preferred stock, 4.25% series; and
  • A quarterly dividend of $1.195 per share on NSTAR Electric Company’s cumulative preferred stock, 4.78% series.

Profile

NSTAR Electric Company is a wholly-owned subsidiary of NSTAR (NYSE: NST). NSTAR, headquartered in Boston, is an energy delivery company with revenues of approximately $3 billion and assets of $8 billion that serves 1.4 million customers in Massachusetts, including approximately 1.1 million electric distribution customers in 81 communities and 300,000 natural gas distribution customers in 51 communities.

On October 18, 2010, NSTAR announced a stock-for-stock merger-of-equals transaction with Northeast Utilities (NU). Massachusetts and Connecticut regulators are expected to issue their decisions on the merger transaction in early April. If the decisions are acceptable, NSTAR and NU expect the merger will be consummated by April 16, 2012. For more information, go to www.nstar.com.

Copyright Business Wire 2010

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