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.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.