UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
NSTAR
(Exact name of registrant as specified in its charter)
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 20, 2008
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| | Registrant, Address and Telephone Number | | |
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| | NSTAR | | |
| | 800 Boylston Street | | |
| | Boston, Massachusetts 02199 | | |
| | Telephone (617) 424-2000 | | |
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Commission File Number | |
State of Incorporation | | I.R.S. Employer Identification No. |
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001-14768 | | Massachusetts | | 04-3466300 |
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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[ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
[ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
[ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
[ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01. Other Events
Dividend Increase
On November 20, 2008, NSTAR issued a press release announcing that its Board of Trustees voted to increase the dividend on its common shares to an annualized rate of $1.50 per share, a 7.1% increase over the previous rate of $1.40. The Board declared a quarterly dividend of $0.375 per share, payable February 2, 2009 to shareholders of record as of January 9, 2009.
2009 Earnings Guidance
NSTAR also is providing guidance for the year 2009 as follows:
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a) | Earnings per share are expected to be in the $2.33 to $2.43 range. |
b) | Electric sales are expected to increase by about 1% while gas sales are expected to increase approximately 2%, assuming normal weather conditions. |
c) | Operations and maintenance expense is expected to decline by approximately 1%. |
d) | Capital expenditures for the year are expected to be approximately $360 million. The lower spending level for 2009 primarily reflects the scheduled completion of the second phase of our 345kV transmission project. |
The press release is filed herewith as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
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Number | Description of Exhibit |
99.1 | Press Release dated November 20, 2008 and issued by the Registrant entitled “NSTAR Increases Common Share Dividend 7.1% and Provides 2009 Earnings Guidance.” |
SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. |
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| | NSTAR |
| | (Registrant) |
Date: November 20, 2008 | By: | /s/ R. J. WEAFER, JR. |
| | Robert J. Weafer, Jr. |
| | Vice President, Controller |
| | and Chief Accounting Officer |
