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Duke Energy, a Fortune 150 company, highlighted key achievements in 2023 during its annual shareholders meeting. The company successfully completed portfolio repositioning, added a record number of new customers, and secured regulatory approvals for significant investments. Duke Energy is focused on grid modernization and pursuing emerging technologies to reach climate goals. Operational excellence and safety are core priorities, with notable performance across the organization. Shareholders elected the Board of Directors and discussed key proposals at the meeting.
Duke Energy (NYSE: DUK) announced a quarterly cash dividend on its common stock of $1.025 per share and a quarterly cash dividend on its Series A preferred stock of $359.375 per share. The dividends are payable on June 17, 2024, to shareholders of record on May 17, 2024. Duke Energy has a history of paying cash dividends on its common stock for 98 consecutive years. The company is focused on a clean energy transition, aiming for net-zero methane emissions by 2030 and net-zero carbon emissions from electricity generation by 2050.
Duke Energy has restored power to over 180,000 customers affected by severe storms in the Carolinas. Majority of customers expected to have power back by tonight, with some areas to be restored by Friday. Safety tips provided for dealing with power outages. Customers can receive outage alerts and report outages through various channels.
Duke Energy Florida has received approval to lower rates for the second time this year, with new rates effective in June 2024, resulting in a nearly $6 decrease in a typical residential customer bill. This adds to the over $11 monthly reduction that took effect in January 2024, benefiting both residential and commercial customers. Duke Energy is committed to providing reliable, clean power while passing on savings to its customers.
Duke Energy has reported its first-quarter 2024 financial results, showcasing its commitment to a clean energy transition with ambitious goals for net-zero methane and carbon emissions. The company's leadership team will discuss the results and updates during an investor presentation, emphasizing continued investment in grid upgrades, renewables, and cleaner generation.
Duke Energy celebrates National Lineworker Appreciation Day, highlighting the important role lineworkers play in ensuring safe and reliable power for communities. The company has invested nearly $4 million in strengthening its lineworker talent pipeline. Lineworkers face challenging conditions, undergo rigorous training, and prioritize safety above all else. They also contribute to power grid improvement projects, helping modernize and strengthen Duke Energy's system. The company continues to hire diverse, skilled candidates to address growing energy needs and make grid upgrades for the future.
Duke Energy Foundation awarded $500,000 in grants to North Carolina nonprofits for environmental resiliency. 18 organizations received grants to boost environmental justice and climate resiliency. Duke Energy employees and retirees volunteered in April for environmental programs. Duke Energy is committed to clean energy transition, investing in resilience and philanthropy.
Duke Energy Florida has been recognized by the Arbor Day Foundation as a 'Tree Line USA' utility for the 18th consecutive year. The company's tree care practices focus on quality pruning and training, promoting safe electric service and environmental benefits. Duke Energy has given away over 13,000 trees since 2017 to help customers conserve energy. The program includes free tree giveaways and strategic tree planting initiatives. The company emphasizes the importance of proper tree maintenance to prevent power outages and ensures compliance with industry standards and federal regulations.
Duke Energy's Midwest Lineman's Rodeo recently qualified 15 local lineworkers to compete in the International Lineman's Rodeo, showcasing their job skills essential for power delivery and restoration. The event highlighted the dedication and talent of lineworkers through specialized contests testing their daily job-related skills. The competition featured categories like equipment repair, pole climbs, and hurt man rescues, emphasizing efficiency, agility, technique, and safety procedures. Winners will represent Duke Energy at the international event in Bonner Springs, Kan., in October.
Duke Energy recently completed upgrades at the Bad Creek pumped storage facility, adding 320 megawatts of capacity to support the growing electricity demand in the Carolinas. This brings the total capacity of the station to 1,680 megawatts, benefiting 1.3 million homes. The upgrades enhance energy reliability, operational flexibility, and storage capabilities, positioning Duke Energy for the future energy transition.
