Dominion Energy, Inc. - D STOCK NEWS

Dominion Energy announced the Bureau of Ocean Energy Management (BOEM) will publish a Notice of Intent (NOI) for the 2.6-gigawatt Coastal Virginia Offshore Wind (CVOW) project, the largest offshore wind farm planned in the U.S. This marks an important regulatory milestone, ensuring the project's construction remains on track for 2026. The CVOW project is expected to power 660,000 homes and create significant economic impact, generating around 900 jobs during construction and 1,100 jobs annually once operational. The project aligns with Virginia's clean energy goals and Dominion's commitment to net zero emissions by 2050.

Dominion Energy Virginia, alongside Firefly Fiber Broadband and other partners, has entered into a Memorandum of Understanding to enhance broadband access in Central Virginia. This initiative aims to provide fiber-optic broadband services to over 25,000 unserved households and businesses, pending regulatory approval. The project is supported by bipartisan legislation and reflects an effort to modernize infrastructure while improving internet accessibility for rural areas. The partnership is set to include phased deployment and engineering studies for efficient planning.

Dominion Energy Virginia is advancing its Grid Transformation Plan with a new proposal for Phase II, involving a capital investment of approximately $669 million from 2022 to 2023. This phase focuses on enhancing reliability, integrating distributed energy resources, and modernizing the electric distribution grid. The company aims to improve energy management tools and increase access to clean energy. Phase I has already improved grid reliability and customer service. Importantly, no rate increases for customers are expected due to this investment.

Dominion Energy has launched the Educational Equity Scholarship program, aiming to support African American and underrepresented minority students. The inaugural class consists of 60 students from eight states, who will collectively receive over $500,000 in scholarships. As part of a broader $10 million initiative over six years, students in two-year schools will receive $5,000 each, while those in four-year schools will receive $10,000. The program is managed by Scholarship America. Additionally, Dominion pledged $25 million to historically black colleges across four states.

Dominion Energy, Ørsted, and Eversource announced a deal for Ørsted and Eversource to charter Dominion's Charybdis, the first Jones Act-qualified offshore wind turbine installation vessel in the U.S. The vessel, expected to be ready by late 2023, supports the construction of the Revolution Wind and Sunrise Wind projects, generating over 1.6 gigawatts of renewable energy for nearly 1 million homes. The charter also enables support for Dominion's Coastal Virginia Offshore Wind project, contributing to job creation and economic growth while having no impact on regulated customers' bills.

The board of directors of Dominion Energy has declared a quarterly dividend of 63 cents per share, payable on June 20, 2021. Shareholders of record by June 4, 2021 will receive this dividend. This marks the 373rd consecutive dividend paid by Dominion Energy or its predecessor, demonstrating the company's ongoing commitment to returning value to its shareholders. The previous dividend was declared on January 22, 2021.

The Nuclear Regulatory Commission (NRC) has approved Dominion Energy's (NYSE: D) application to renew Surry Power Station's operating licenses for an additional 20 years. Located in Virginia, the power station supplies clean electricity to 419,000 homes and significantly contributes to the state's carbon-free electricity generation. This extension aids in meeting the Virginia Clean Economy Act's zero-carbon requirements by 2045 and supports over 900 jobs. The renewed licenses allow Surry to operate until 2052 and 2053, ensuring reliable energy for Dominion's 2.7 million customers in Virginia and North Carolina.

Dominion Energy (NYSE: D) reported a net income of $1.0 billion ($1.23/share) for Q1 2021, a significant improvement from a $270 million loss in Q1 2020. Operating earnings rose to $893 million ($1.09/share) compared to $788 million ($0.92/share) in the prior year. The company maintains its Q2 2021 operating earnings guidance of $0.70 to $0.80/share and affirms its full-year guidance of $3.70 to $4.00/share. This positive trend reflects strong performance and effective economic hedging activities.