CL&P's charter authorizes it to issue up to 9 million shares of preferred stock ($50 par value per share) of which 2,324,000 shares were outstanding as of December 31, 2011 and 2010. CL&P amended its charter on January 3, 2012 to remove references to various series of preferred stock, including the Class A preferred stock, which are no longer outstanding. There were no Class A preferred shares outstanding as of December 31, 2011 and 2010. The issuance of additional preferred shares would be subject to approval by the PURA.

Preferred stockholders have liquidation rights equal to the par value of the preferred stock, which they would receive in preference to any distributions to any junior stock. Were there to be a shortfall, all preferred stockholders would share ratably in available liquidation assets. Details of preferred stock not subject to mandatory redemption are as follows (in millions except in redemption price and shares):

				December 31, 2011		Shares Outstanding as of	As of December 31,
Description				Redemption Price		December 31, 2011 and 2010	2011		2010
$	1.90		Series of 1947	$	52.50	163,912	$	8.2	$	8.2
$	2.00		Series of 1947	$	54.00	336,088		16.8		16.8
$	2.04		Series of 1949	$	52.00	100,000		5.0		5.0
$	2.20		Series of 1949	$	52.50	200,000		10.0		10.0
	3.90	%	Series of 1949	$	50.50	160,000		8.0		8.0
$	2.06		Series E of 1954	$	51.00	200,000		10.0		10.0
$	2.09		Series F of 1955	$	51.00	100,000		5.0		5.0
	4.50	%	Series of 1956	$	50.75	104,000		5.2		5.2
	4.96	%	Series of 1958	$	50.50	100,000		5.0		5.0
	4.50	%	Series of 1963	$	50.50	160,000		8.0		8.0
	5.28	%	Series of 1967	$	51.43	200,000		10.0		10.0
$	3.24		Series G of 1968	$	51.84	300,000		15.0		15.0
	6.56	%	Series of 1968	$	51.44	200,000		10.0		10.0
Totals						2,324,000	$	116.2	$	116.2

Dividends totaling $5.6 million for 2011, $6.1 million for 2010 and $5.6 million for 2009 were declared and dividends of $5.6 million were paid to the preferred stockholders in 2011, 2010 and 2009.