The Board of Directors of
) has approved an increase in its quarterly dividend by 7.1% to
36.75 cents per share from its earlier payment of 34.3 cents. As
a result of this revision, the company's annualized dividend will
be $1.47 per share. The new annual dividend yield will be 3.6%,
which is higher than the industry average of 2.3%. This dividend
is payable on Mar 28, 2013 to shareholders of record as of Mar 1,
ALLETE INC (ALE): Free Stock Analysis Report
CMS ENERGY (CMS): Free Stock Analysis Report
DOMINION RES VA (D): Free Stock Analysis
NORTHEAST UTIL (NU): Free Stock Analysis
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Northeast Utilities' dividend-payment history affirms its
commitment to maximize shareholder wealth. Previously, the
company had increased its dividend in Feb 2012. Quarterly
dividend payout climbed 16.8% to 34.3 cents per share from 29.37
cents per share. The company values its owners and has been
trying to boost their income by hiking the dividend payment and
consistent payment of dividend each year since 1966.
Northeast Utilities' cash flow from operating activities was $796
million in the first nine months of 2012 and cash balance was
$73.4 million as of Sep 30, 2012. A strong liquidity position
will help the company to meet its anticipated cash requirements
and fund future growth opportunities.
Other energy providers that have recently increased their
Dominion Resources Inc.
) that increased its dividend by 6.6%,
CMS Energy Corporation
) which raised its dividend by 6.25% and
) which announced a hike of 3.3%.
Northeast Utilities will report fourth-quarter and full-year 2012
results on Feb 18, 2013. As per the Zacks Consensus Estimates,
the company's earnings for fourth-quarter and full-year 2012 are
currently pegged at 59 cents per share and $2.29 per share,
Hartford, Connecticut and Boston, Massachusetts-based Northeast
Utilities provides energy delivery services to residential,
commercial and industrial customers in Connecticut, New Hampshire
and Massachusetts. The company currently has a short-term Zacks
Rank #4 (Sell).