NU’s Board of Trustees today declared a quarterly dividend of $0.125 per share, an increase of 25%, payable September 28, 2001 to shareholders of record as of September 1, 2001.
“This dividend increase underscores the tremendous financial improvement we have experienced at Northeast Utilities since the dividend was restored in 1999. We view this increase as significant and we look forward to additional, perhaps more modest increases in the years to come,” Morris said. “The increase announced today also maintains our payout ratio at a conservative level, thereby helping to maintain our much improved financial flexibility and to fund growth initiatives.”
In addition to the dividend increase, Morris announced the most dramatic improvements in New England’s electric transmission system in 20 years.
“Our promise to deliver shareholder and customer value and dramatically increase NU’s presence as New England’s largest electric utility system is today a reality,” said Morris. “It’s the right time to invest in electric energy transmission to connect our customers, neighbors and businesses and to support tremendous growth in Connecticut and throughout the Northeast.
“These projects will provide increased transmission capability, access to competitively priced power and improved power supply reliability for the 4.6 million customers in the region.”
The three projects dramatically increase inter-regional electric transmission, improve power system reliability and meet the Federal Energy Regulatory Commission’s goal of using transmission grids to foster competitive energy markets.
The projects involve:
[Back to Top]