Company: CNLHP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000072741-25-000007
Chunk: 177

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 177
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 in 2023, an improvement in regulatory under-recoveries driven primarily by the timing of collections for the CL&P non-bypassable FMCC and other regulatory tracking mechanisms partially offset by the unfavorable impact in the timing of collections for energy supply costs, a $20.7 million decrease in cost of removal expenditures, a $12.4 million decrease in cash payments to vendors for storm costs, and the timing of other working capital items.  The impacts of regulatory collections are included in both Regulatory Recoveries and Amortization on the statements of cash flows.  These favorable impacts were partially offset by the timing of cash collections on our accounts receivable.

In 2024, we paid cash dividends of $1.00 billion and issued non-cash dividends of $23.5 million in the form of treasury shares, totaling dividends of $1.03 billion, or $2.86 per common share.  In 2023, we paid cash dividends of $919.0 million and issued non-cash dividends of $23.4 million in the form of treasury shares, totaling dividends of $942.4 million, or $2.70 per common share.  Our quarterly common share dividend payment was $0.715 per share in 2024, as compared to $0.675 per share in 2023.  On January 29, 2025, our Board of Trustees approved a common share dividend payment of $0.7525 per share, payable on March 31, 2025 to shareholders of record as of March 4, 2025.

Eversource issues treasury shares to satisfy awards under the Company's incentive plans, shares issued under the dividend reinvestment and share purchase plan, and matching contributions under the Eversource 401k Plan.

In 2024, CL&P, NSTAR Electric and PSNH paid $333.8 million, $643.9 million and $62.0 million, respectively, in common stock dividends to Eversource parent. 

Investments in Property, Plant and Equipment on the statements of cash flows do not include amounts incurred on capital projects but not yet paid, cost of removal, AFUDC related to equity funds, and the capitalized and deferred portions of pension and PBOP income/expense.  In 2024, investments for Eversource, CL&P, NSTAR Electric, and PSNH were $4.48 billion, $978.5 million, $1.56 billion and $608.8 million,