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Dominion Energy, Inc. (NYSE: D), headquartered in Richmond, VA, is a leading provider of electricity and natural gas, servicing approximately 7 million customers across 13 states. The company's mission is to deliver sustainable, reliable, affordable, and safe energy.
Dominion Energy is committed to achieving net zero emissions of carbon dioxide and methane from its power generation and gas infrastructure operations by 2050. One of the company's most significant recent achievements includes the launch of Charybdis, the United States' first Jones Act-compliant offshore wind turbine installation vessel. This vessel marks a crucial step in the company's Coastal Virginia Offshore Wind (CVOW) project, the largest offshore wind farm under construction in the U.S., aimed to generate enough renewable energy to power 660,000 homes by 2026.
Financially, Dominion Energy recently reported a net income of $674 million for the first quarter of 2024. The company continues to provide robust financial guidance, affirming its full-year 2024 operating earnings range of $2.62 to $2.87 per share. Dominion Energy also conducted a tender offer for its 4.65% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock, reflecting its strategic financial maneuvers to optimize its capital structure.
The company is actively involved in various partnerships and community engagements. It has more than 800 Virginia-based workers engaged in the CVOW project, creating significant local job opportunities and driving economic development.
For the latest updates and detailed information about Dominion Energy, please visit DominionEnergy.com.
Dominion Energy is actively restoring power following a widespread ice storm that impacted over 290,000 customers in Central and Southern Virginia. As of Sunday afternoon, over 175,000 customers have had their service restored by more than 5,700 workers and 600 bucket trucks. The storm, noted as the worst since January 2000, caused significant damage including broken poles and downed power lines. Restoration efforts are prioritized for essential public services and aimed at returning power to the largest number of customers.
Dominion Energy Virginia is actively restoring power to over 145,000 customers affected by an ice storm that began on February 13, 2021. The storm caused significant damage, with more than 220,000 customers losing power due to downed lines and broken poles. Crews are working around the clock to restore services, prioritizing critical facilities first. Customers are advised to report outages via the Dominion Energy app or hotline. The company emphasizes safety precautions around downed lines and generator use. Dominion Energy serves over 7 million customers across 16 states.
Dominion Energy (NYSE: D) reported a net income of $682 million ($0.82 per share) for Q4 2020, down from $1.0 billion ($1.21 per share) in Q4 2019. The company faced a net loss of $401 million ($0.57 per share) for the full year, compared to a gain of $1.4 billion ($1.62 per share) in 2019. Operating earnings fell to $672 million ($0.81 per share) in Q4, while full-year operating earnings rose slightly to $3.0 billion ($3.54 per share). The guidance for 2021 suggests operating earnings between $3.70 and $4.00 per share.
On January 26, 2021, Dominion Energy honored five nonprofit arts organizations across Virginia with the 2021 Dominion Energy ArtStars awards, recognizing their contributions to creative education. Each organization, with annual budgets under $1 million, received a $10,000 grant to support arts programs. The recipients include Arts for Learning, Art for the Journey, Fairfax Symphony Orchestra, Halestone Foundation, and The Origin Project. Dominion Energy aims to support community causes, having contributed over $58 million in 2020.
Dominion Energy's board has declared a quarterly dividend of 63 cents per share, set to be paid on March 20, 2021. This dividend will benefit shareholders of record as of March 5, 2021. The announcement marks the 372nd consecutive dividend paid by Dominion Energy and its predecessor company, underscoring the company's commitment to returning income to shareholders. The previous dividend was declared on November 4, 2020.
Dominion Energy has been honored with the Emergency Response Award from the Edison Electric Institute for its exceptional recovery efforts following Hurricane Isaias. The hurricane impacted over 508,000 customers in Virginia, marking the 10th largest restoration effort in the company's history. Dominion restored power within three days after peak disruptions. This recognition reflects the dedication of the company's frontline employees, especially during challenging times, including the ongoing pandemic.
Dominion Energy has awarded $1.3 million in grants to 118 organizations focused on environmental education and stewardship across eight states. This initiative reflects the company's commitment to enhancing natural spaces and supporting community projects. Over the past 15 years, Dominion has contributed more than $37 million to various environmental efforts. Notable grants this year include funding for the Audubon Society of Northern Virginia and Utah State University. The grants aim to improve accessibility to nature and promote ecological education for future generations.
Dominion Energy (NYSE: D) has acquired a 150-megawatt solar facility in Hardin County, Ohio, from Invenergy. This marks Dominion's first solar investment in Ohio, with plans to enhance its clean energy portfolio. The solar power generated will be contracted to Facebook under a long-term agreement. With over 2,200 megawatts of solar capacity operational and an additional 3,500 megawatts in development, Dominion aims for net-zero emissions by 2050. The acquisition strengthens Dominion's partnership with Invenergy and aligns with corporate sustainability goals.
Dominion Energy (NYSE: D) will hold its fourth-quarter 2020 earnings call on Feb. 12, 2021, at 10 a.m. ET. Management will discuss financial results and other key topics for stakeholders, with an expected duration of 60 to 90 minutes. A live webcast will be available on the investor website, along with accompanying slides. Participants can join via phone, with specific dialing instructions provided. A replay of the webcast and a telephonic recording will be accessible later on the same day.
Dominion Energy is launching the Educational Equity Scholarship Program, providing $500,000 in scholarships for 2021 to support African American and other underrepresented minority students in its service area. This initiative is part of a broader $10 million commitment over six years. The program will award 60 scholarships, including 20 at $5,000 for two-year schools and 40 at $10,000 for four-year institutions, with a Jan. 25, 2021 application deadline. The program aims to enhance educational access and aid students in achieving higher education.
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