The Northeast Utilities (NYSE: NU) Board of Trustees today approved a quarterly dividend of $0.343 per common share, payable on June 29, 2012, to shareholders of record as of the close of business on June 1, 2012. The June dividend represents an increase of approximately 17 percent over the dividend NU paid on March 30, 2012, and is consistent with the provisions of the merger agreement between NU and NSTAR, which state that NU’s first quarterly dividend following the merger would be at least equal to the most recent NSTAR pre-merger quarterly dividend, after giving effect to the merger agreement’s exchange ratio. NU and NSTAR completed their merger on April 10, 2012. NU has approximately 314 million shares outstanding. NU operates New England’s largest utility system serving approximately 3.5 million electric and natural gas customers in Massachusetts, Connecticut and New Hampshire.
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