UIL stock retains its strong dividend yield of 5.7%, particularly good in light of the general decline in the economy. And our dividend is well supported, covered more than three times over by cash flow from operations. Thanks to the nature of our utility business (UI), we enjoy a strong cash flow to invest in businesses that meet our stringent criteria. The pay-off in dividend and shareowner confidence has been worth every penny of our thoughtful, deliberate approach.

When you put all this together, we have a very exciting, ongoing investment proposition.

 

Fueled by 101+ years of experience and trust. The highest reliability in the Northeast is a pretty lofty goal for a public utility. For UI, it’s a reality that our 318,000 residential and commercial customers in Southwest Connecticut enjoy each day. In return, UI has received an 86% customer transaction satisfaction rate, upheld by treating those we serve as customers rather than as mere ratepayers.

Electric restructuring — which led UI to divest itself of power generation facilities — has allowed us to focus more on new customer service technologies. This past year, for instance, we finalized plans to implement a new customer information system. Soon, our customers will have instant access to their account information so they can compare their electrical usage and billing amounts between statements. And we’ll be using it in-house to support multiple department functions and new business requirements.

UI’s Network Meter Reading Project is rapidly reaching completion in 2002. This is another example of efficiency and convenience, eliminating door-to-door reading, reducing the need for customer billing estimates and giving UI the instantaneous information needed to respond to electrical outages.

When it became necessary to replace Enron North American Corp. as our standard offer generation services supplier in December 2001, UI did it seamlessly. On the basis of its solid record and competitive bid, Dominion of Richmond, Virginia, won the contract over 10 other competitors, demonstrating that wholesale energy competition is alive and well, benefiting our customers. The transition was transparent, giving our customers reliable, uninterrupted energy at current rates.