This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Dividend Stocks Raising Payouts

Dominion Resources

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

Dominion Resources (D)

Company Profile : Richmond, Va.-based Dominion Resources is a producer and transporter of energy. It manages its daily operations through three operating segments: Dominion Virginia Power of DVP, Dominion Energy and Dominion Generation.

Dominion Resources raised its annual dividend by 7.7% to $1.97 per share, or 49.25 cents per share on a quarterly basis. It also set a new dividend payout ratio of 60% to 65%, up from a ratio of 55%, lifting the ratio of dividends to earnings it plans to pay going forward.

That brings Dominion's yield to around 4.6%.

Warmer weather and improvements at Dominion's Virginia Power business and generation unit recently helped the utility post stronger quarterly results. Third-quarter profits fell 3.2%, dragged by the effects of taxes, but adjusted for one-time items both revenue and earnings grew in the period.

Dominion also said its board elected a new director, Helen E. Dragas. The twelfth member of the board is a Virgina real estate executive.

On Dec. 29, Dominion Virginia Power announced plans for a five-year investment plan to bolster its energy production capacity.

CEO Paul D. Koonce said Dominion Virginia Power will invest $7.6 billion over the next five years for new power stations and other electric infrastructure as demand among its customers grows. The investments will also cover "reliability enhancements and new technology that will allow customers to save money on their energy bills," the company said.

"The trends remain clear that Virginia's economy continues a slow-but-steady recovery, the state's population is growing, and the demand for energy is moving right along with it," Koonce said. "We are committed to support that growth in the most cost-effective, reliable and responsible way."

The plans adds to a three-year effort announced last January for investments from 2010 through 2012 that would total $4 billion.

Koonce said that growth beyond that time period will necessitate adding additional energy to "to power the equivalent of 1.4 million new homes by 2020."

8 of 11

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs