Dominion Energy Dividend Cut

Utility dominion energy nyse d announced that it was making a big change.

Dominion energy dividend cut.

The yield has consistently been over 4 since early 2018 and more recently has been over 5 at times. I just learned that dominion energy d is going to cut annual dividends to 2 50 share from 3 76 share. Dividends are typically paid on the 20th day of march june september and december. However revenue earnings.

That s a significant reduction. Much of this was due to the high dividend yield compared to the s p 500. Were canceling their atlantic coast pipeline project. By the end of the year it plans to cut its dividend by 28.

The company is selling assets to berkshire hathaway. On the other hand management s action was voluntary rather than. In early july giant u s. This ends an 18 year track record of annual dividend increases.

Here s what you need to know about this big development. Dominion cut its projected 2021 dividend payment to around 2 50 a share reflecting the assets being divested and a new payout ratio that aligns it better with industry peers. Proceeds will be about 3b as the deal includes the assumption of 5 7b in debt and taxes. Dividends can be paid by check or electronic deposit or may be reinvested.

Dividends on dominion energy common stock are paid as declared by the board of directors. Click here for stock split information. Topping off the day dominion also announced a cut to its dividend. The initial market reaction to dominion s move has been negative i suspect primarily because of the unexpected dividend cut.

The transaction is. Dominion energy is putting the brakes on dividend growth dominion energy was a dividend growth machine but all of that s going to end. Dominion also announced that it and its partner duke energy corp. Dividend cut by dominion energy.

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