Dominion Energy Dividend Cut

Dominion was a popular income stock before the announcement.

Dominion energy dividend cut.

The initial market reaction to dominion s move has been negative i suspect primarily because of the unexpected dividend cut. Much of this was due to the high dividend yield compared to the s p 500. By the end of the year it plans to cut its dividend by 28. Dividends on dominion energy common stock are paid as declared by the board of directors.

The company is selling assets to berkshire hathaway. Dividends are typically paid on the 20th day of march june september and december. This ends an 18 year track record of annual dividend increases. The transaction is.

Dividend cut by dominion energy. Utility dominion energy nyse d announced that it was making a big change. I just learned that dominion energy d is going to cut annual dividends to 2 50 share from 3 76 share. On the other hand management s action was voluntary rather than.

Proceeds will be about 3b as the deal includes the assumption of 5 7b in debt and taxes. Click here for stock split information. Find the latest dividend history for dominion energy inc. Select my state select state idaho north carolina gas north carolina electric ohio south carolina utah virginia west virginia wyoming go to this state s site.

That s a significant reduction. In early july giant u s. Were canceling their atlantic coast pipeline project. In order to serve you better please select your dominion energy location services.

However revenue earnings. 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. The yield has consistently been over 4 since early 2018 and more recently has been over 5 at times. Dominion energy is putting the brakes on dividend growth dominion energy was a dividend growth machine but all of that s going to end.

Dividends can be paid by check or electronic deposit or may be reinvested. Topping off the day dominion also announced a cut to its dividend.