Dominion Energy, Inc. - D STOCK NEWS

On August 11, Dominion Energy highlights National 811 Day, urging homeowners to contact 811 before any digging projects. This free, legally required service helps prevent accidents by marking underground utility lines. A recent study indicates that nearly half of U.S. homeowners planning to dig may do so without contacting 811, risking outages and safety issues. State law mandates contacting 811 three business days prior to a project. Dominion Energy emphasizes the importance of this service to protect public safety and utility reliability.

Dominion Energy (NYSE: D) reported a second-quarter 2022 net loss of $0.58 per share, totaling $453 million, contrasting with a net income of $285 million or $0.33 per share in Q2 2021. However, the company's operating earnings rose to $0.77 per share ($658 million), up from $0.76 per share ($628 million) year-on-year. For Q3 2022, Dominion anticipates operating earnings between $0.98 and $1.13 per share, affirming its full-year guidance of $3.95 to $4.25 per share. The firm emphasizes operating earnings as a key performance measure, accounting for certain adjustments.

Dominion Energy has received approval from the Virginia State Corporation Commission for the 2.6-gigawatt Coastal Virginia Offshore Wind (CVOW) project, positioned 27 miles off Virginia Beach. This project is expected to generate enough renewable energy to power up to 660,000 homes and save Virginia customers more than $3 billion during its first decade, potentially reaching $6 billion if current commodity price trends continue. With an investment of approximately $9.8 billion, CVOW aims to support energy diversity and create hundreds of jobs in the region.

The board of directors of Dominion Energy has declared a quarterly dividend of 66.75 cents per share. This dividend is payable on September 20, 2022, to shareholders of record as of September 2, 2022. This marks the 378th consecutive dividend paid by Dominion Energy or its predecessor company. The prior dividend was declared on May 11, 2022.

Dominion Energy Virginia has launched its largest battery energy storage pilot project, consisting of three systems totaling 12 megawatts at the Scott Solar facility in Powhatan County. These systems are integral to enhancing grid reliability and advancing renewable energy initiatives, with a goal of achieving net zero emissions by 2050. The company is also developing two additional battery projects in New Kent and Hanover Counties. Approved by the Virginia SCC, these projects will provide key insights into energy storage capabilities.

Dominion Energy (NYSE: D) has announced it will redeem all outstanding shares of its Series A Cumulative Perpetual Convertible Preferred Stock on Sept. 1, 2022, at a price of $1,000 per share. A quarterly dividend of $4.375 per share will also be paid on the same date to holders of record as of Aug. 15, 2022. Interested shareholders may convert their shares into common stock until Aug. 31, 2022, with cash settlements based on market conditions. Following the redemption, no shares of the Series A Preferred Stock will remain outstanding.

The board of directors of Dominion Energy (NYSE: D) has appointed Kristin G. Lovejoy as a director, effective August 1, 2022. Lovejoy is a prominent technology and cybersecurity expert, currently the Global Security and Resilience Practice Leader at Kyndryl. With over 25 years of professional experience, she has held significant roles including Global Cybersecurity Leader at EY and founder of BluVector. Dominion Energy's Chair, Robert M. Blue, praised her expertise in security and risk management, marking her election as a key enhancement to the company's leadership and governance.

Dominion Energy (NYSE: D) is set to host its second-quarter 2022 earnings call on Monday, Aug. 8, 2022, at 10 a.m. ET. During this call, management will address key financial results and other topics relevant to stakeholders. Investors can join via webcast or telephone, with details provided for both options. Additionally, a replay will be available on the investor information pages shortly after the call concludes. Dominion Energy services approximately 7 million customers across 14 states and is committed to achieving net zero emissions by 2050.

Dominion Energy (NYSE: D) has received FAA approval to conduct advanced drone operations beyond visual line of sight (BVLOS) across 40+ power facilities in seven states. This approval, achieved in collaboration with Skydio, allows plant engineers to operate drones with enhanced safety and efficiency without needing additional crew for proximity detection. The Skydio X2 drones will facilitate inspections and data collection, ultimately reducing operational costs and improving safety outcomes. Dominion's drone program, initiated in 2014, now includes approximately 50 drones for various operational tasks.