Northeast Utilities (NU) Increases Dividend

May 13, 2008 7:57 AM EDT

This morning as part of the 42nd Annual Meeting of the shareholders of Northeast Utilities (NYSE: NU), Charles W. Shivery, NU's chairman, president and chief executive officer, announced the company's eighth consecutive dividend increase and discussed the benefits of major transmission projects to help address New England's pressing energy needs.

Shivery reported that the Board approved a 6.25 percent increase in NU's common dividend, increasing the annualized rate of $0.80 to $0.85 per share. NU declared a common dividend of $0.2125 per share payable on September 30, 2008, to shareholders of record as of September 1, 2008. In April, NU declared a regular quarterly dividend of $0.20 per share payable on June 30, 2008, to shareholders of record as of June 1, 2008. [JT]
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