Company: CNLHP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000072741-25-000007
Chunk: 383

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 383
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 Federal Power Act restriction, as applied to CL&P, NSTAR Electric and PSNH, would not be construed or applied by the FERC to prohibit the payment of dividends from retained earnings for lawful and legitimate business purposes.  In addition, certain state statutes may impose additional limitations on such companies and, including but not limited to, on NSTAR Gas, Yankee Gas, EGMA, and Aquarion’s operating companies.  Such state law restrictions do not restrict the payment of dividends from retained earnings or net income. 

18.     COMMON SHARES

The following table sets forth the Eversource parent common shares and the shares of common stock of CL&P, NSTAR Electric and PSNH that were authorized and issued, as well as the respective per share par values:   Shares Par ValueAuthorized as of December 31, 2024 and 2023Issued as of December 31,20242023Eversource$5 410,000,000 375,724,367 359,984,073 CL&P$10 24,500,000 6,035,205 6,035,205 NSTAR Electric$1 100,000,000 200 200 PSNH$1 100,000,000 301 301 

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Common Share Issuances:  Eversource had an equity distribution agreement pursuant to which it could offer and sell up to $1.2 billion of its common shares from time to time through an “at-the-market” (ATM) equity offering program.  Eversource issued and sold its common shares through its sales agents during the term of this agreement.  Shares were offered in transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise.  Sales were made at either market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices.  In 2024, Eversource issued 15,740,294 common shares, which resulted in proceeds of $989.4 million, net of issuance costs.  Eversource used the net proceeds received for general corporate purposes.  In 2023, no shares were issued under this agreement.  Eversource completed the program in October 2024. Treasury Shares:  As of December 31, 2024 and 2023, there were 9,116,315 and 10,443,807 Eversource