Northeast Utilities Raises Common Dividend By 6.8%
HARTFORD, Conn. & BOSTON--(BUSINESS WIRE)-- The Northeast Utilities (NU) Board of Trustees today approved a quarterly dividend of $0.3925 per share, payable on March 31, 2014, to shareholders of record as of the close of business on March 3, 2014.
The March 2014 dividend represents a 6.8 percent increase over NUs previous quarterly dividend level.
This increase underscores our confidence in our regulated business model, which allows us to grow our earnings and dividends at a rate that is in the upper tier of the nations regulated utilities, while at the same time we invest billions of dollars to strengthen the regions electric and natural gas delivery systems, said Thomas J. May, NU chairman, president and chief executive officer.
Northeast Utilities operates New Englands largest energy delivery company. NU and its companies are committed to safety, reliability, environmental leadership and stewardship, as well as expanding energy options for approximately 3.6 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 315 million common shares outstanding. Learn more about NU and its family of companies at www.nu.com.
This news release includes statements concerning NUs expectations, beliefs, plans, objectives, goals, strategies, assumptions of future events, future financial performance or growth and other statements that are not historical facts. These statements are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, readers can identify these forward-looking statements through the use of words or phrases such as estimate, expect, anticipate, intend, plan, project, believe, forecast, should, could, and other similar expressions. Forward-looking statements involve risks and uncertainties that may cause actual results or outcomes to differ materially from those included in the forward-looking statements. Factors that may cause actual results to differ materially from those included in the forward-looking statements include, but are not limited to, cyber breaches, acts of war or terrorism, or grid disturbances; the possibility that expected merger synergies will not be realized or will not be realized within the expected time period; actions or inaction of local, state and federal regulatory and taxing bodies; changes in business and economic conditions, including their impact on interest rates, bad debt expense and demand for NUs products and services; fluctuations in weather patterns; changes in laws, regulations or regulatory policy; changes in levels or timing of capital expenditures; disruptions in the capital markets or other events that make NUs access to necessary capital more difficult or costly; developments in legal or public policy doctrines; technological developments; changes in accounting standards and financial reporting regulations; actions of rating agencies; and other presently unknown or unforeseen factors. Other risk factors are detailed from time to time in NUs reports filed with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which such statement is made, and NU undertakes no obligation to update the information contained in any forward-looking statements to reflect developments or circumstances occurring after the statement is made or to reflect the occurrence of unanticipated events.
Jeffrey R. Kotkin, 860-665-5154
Source: Northeast UtilitiesCopyright Business Wire 2014