NSTAR Ups Dividend By 6.7%
November 20, 2009 (FinancialWire) — NSTAR (NYSE: NST) said that its board of trustees voted to increase the dividend on its common shares to an annualized rate of $1.60 per share, a 6.7% increase over the previous rate of $1.50.
This is the company’s 483rd consecutive dividend and the twelfth consecutive year that NSTAR has increased the dividend.
With the latest move, the company’s board declared a quarterly dividend of $0.40 per share, payable February 1, 2010 to shareholders of record as of January 8, 2010.
Boston-based NSTAR is an energy delivery company with revenues of around $3.2 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. NSTAR is also engaged in unregulated business operations.
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