Today, State Senator Norm Needleman (D-Essex), Senate Chair of the Energy and Technology Committee, released the following statement in response to the announcement that Eversource Energy’s board plans to increase its dividend by 5.2% at the end of the first quarter of 2025:
“Despite a barrage of corporate propaganda, Eversource is doing great. All the bluster in the news recently concerning lawsuits certainly isn’t stopping the company from giving its shareholders a bigger dividend this year. In fact, the service Dividend Channel recently noted Eversource is a ‘Top 10 Utility Dividend Stock,’ with a 5.22% yield and a price-to-book ratio of 1.4, both of which were well above industry averages.
So, to review: Wall Street says Eversource’s bond rating is down, but it continues to make money hand over fist and its shareholders continue to benefit. The company continues to show that its primary interest is in shareholder and executive profits; ratepayers seem to be at the end of the priority list. With potential Canadian energy tariffs just one of a number of potential issues to arise in the near future, I’d hope Eversource leaders can put their focus in better places.”
FOR IMMEDIATE RELEASE
Contact: Joe O’Leary | Joe.OLeary@cga.ct.gov | 508-479-4969