Dividends: Seabrook at the Brink

Even among the dozens of troubled nuclear-power projects in the U.S., New Hampshire's Seabrook stands out as a whopping loser. The project's expected cost went from $900 million in 1972 to current estimates of up to $9 billion. Its principal owner, Public Service Co. of New Hampshire, admitted last month that because of Seabrook it may be forced into bankruptcy. If that happens, it will be the first major U.S. utility to file for bankruptcy since the Great Depression. Last week, in a drastic effort to keep itself solvent, the company abruptly halted...

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