Dominion Energy, Inc. - D STOCK NEWS

Dominion Energy is allocating $500,000 in scholarships for 60 students through its Educational Equity Scholarship Program in 2022. This initiative, part of a $10 million commitment over six years, aims to support underrepresented minority students with their undergraduate education expenses. Eligible students must be high school seniors or graduates, or current college undergraduates from specific states, with a minimum GPA of 3.0. Applications are open from Nov. 30, 2021 to Jan. 25, 2022.

Dominion Energy's Project Plant It! program is open for enrollment for the 2021-2022 academic year, with the initiative encouraging environmental education and tree planting. Participants, including educators and youth leaders, can receive free seedlings and wildflower seed packets to support pollinator gardens. The upcoming Arbor Day on April 29, 2022 and National Wildflower Week from May 1-7, 2022 will coincide with this initiative. Since its inception in 2007, over 730,000 seedlings and seed packets have been distributed, with 102,000 expected in April 2022.

Southwest Gas Holdings has announced the expiration of the Hart-Scott-Rodino Antitrust Improvements Act waiting period, which allows the company to proceed with its acquisition of Dominion Energy Questar Pipeline and its affiliates. This acquisition is expected to close on or before December 31, 2021, pending other customary closing conditions. The transaction will enhance Southwest Gas's capabilities in natural gas distribution and infrastructure services across North America, and is anticipated to provide significant operational synergies.

Dominion Energy is raising awareness about utility scams during Utility Scam Awareness Week (Nov. 15-20). Customers are warned about scam calls, particularly around the holidays. The company advises customers to recognize signs of scams, such as threats of service disconnection and demands for immediate payments. Key tips include slowing down, stopping payments via prepaid cards, hanging up on suspicious calls, and verifying claims through official channels. Additionally, Dominion Energy emphasizes its support for customers facing financial hardships.

Dominion Energy has filed plans with the Virginia State Corporation Commission for the 2.6-gigawatt Coastal Virginia Offshore Wind (CVOW) project, the largest offshore wind initiative in the U.S. This project aims to provide clean energy for up to 660,000 homes and represents a $9.8 billion investment. Expected benefits include approximately 900 jobs during construction and 1,100 jobs post-operation, along with significant tax revenues and economic benefits. Customer costs are projected to be around $4 per month, influenced by federal tax credits and operational savings.

Dominion Energy reported a net income of $654 million ($0.79 per share) for Q3 2021, doubling from $356 million ($0.41 per share) in Q3 2020. Operating earnings slightly increased to $918 million ($1.11 per share) from $916 million ($1.08 per share) year-over-year. The company has narrowed its full-year 2021 operating earnings guidance to $3.80 to $3.90 per share, anticipating results above the midpoint if weather remains normal. A third-quarter earnings call is scheduled for Nov. 5, 2021.

Dominion Energy (NYSE: D) announced leadership changes in its Gas Distribution and South Carolina segments, effective January 1, 2022. Donald R. Raikes will retire as president of Gas Distribution, succeeded by P. Rodney Blevins, who will transition from his role as president of Dominion Energy South Carolina. W. Keller Kissam will take over Blevins' position. Blevins will oversee operations serving 3 million gas customers across several states, while Kissam will manage the South Carolina utility serving 1.1 million customers.

Dominion Energy has declared a quarterly dividend of 63 cents per share of common stock, payable on Dec. 20, 2021 to shareholders of record as of Dec. 3, 2021. This marks the 375th consecutive dividend paid by Dominion or its predecessor company, showcasing a strong commitment to returning value to shareholders. The previous dividend was declared on Aug. 4, 2021.