Dominion Energy, Inc - D STOCK NEWS

Dominion Energy (NYSE: D) has acquired the 62.5-megawatt Madison Solar generating facility in Orange County, Virginia, from Cypress Creek Renewables. The facility is set to become operational in Q2 2022 and will provide renewable energy to Northrop Grumman under long-term agreements, covering 100% of its Virginia operations' electricity needs. This acquisition is part of Dominion's strategy to add 16,000 megawatts of solar capacity in Virginia by 2045, aligning with the Virginia Clean Economy Act. The company aims for net-zero carbon emissions by 2050.

Dominion Energy is enhancing its EnergyShare program with an additional $1 million in funding to support small business and residential customers affected by financial hardship due to the coronavirus pandemic. This includes $500,000 for small businesses and $500,000 for residential customers. A new Small Business Relief Program will provide one-time assistance of up to $1,000 for unpaid electric bills. The program will be administered in partnership with the Virginia Chamber of Commerce Foundation, with applications available starting Sept. 1.

Dominion Energy has made significant progress in restoring power to customers affected by Tropical Storm Isaias, with over 97% of the 508,000 customers in Virginia and North Carolina regaining service as of Thursday morning. The company deployed more than 7,000 workers for restoration efforts, including crews from across the nation. Most service is expected to be restored by the end of the day, although some hardest-hit areas may take longer. Dominion Energy emphasizes safety around downed power lines and encourages customers to report outages through its mobile app or contact number.

Dominion Energy has made significant strides in restoring power to over 80% of the 508,000 customers affected by Tropical Storm Isaias in Virginia and North Carolina. With more than 7,000 workers on the ground, the company aims to restore power to the majority of impacted customers by Thursday and resolve severe outages by Friday. Eastern North Carolina and Hampton Roads, Virginia, were the hardest-hit areas, facing downed lines and significant damage. The company emphasizes safety and encourages customers to report outages via their app or hotline.

Dominion Energy has initiated restoration efforts after Tropical Storm Isaias caused outages for over 500,000 customers in Virginia and North Carolina. This storm is ranked as the 10th largest in terms of customer impact. Restoration crews are working continuously, with power restored to more than 40% of affected customers as of midday Tuesday. However, significant delays are expected, especially in North Carolina, with the restoration process anticipated to last several days. Dominion is dedicated to prioritizing essential services during this recovery period.

Dominion Energy (NYSE: D) reported a net loss of $1.2 billion ($1.41 per share) for Q2 2020, a significant decline from a net gain of $54 million ($0.05 per share) in Q2 2019. However, operating earnings rose to $706 million ($0.82 per share), up from $619 million ($0.77 per share) in the previous year. The company's results were negatively affected by weather conditions, impacting earnings by $0.03 per share. Dominion maintains its 2020 full-year operating earnings guidance of $3.37 to $3.63 per share and anticipates Q3 earnings between $0.85 and $1.05 per share.

Dominion Energy (NYSE: D) announced leadership changes effective October 1, 2020. Thomas F. Farrell, II will transition from CEO to executive chair, retaining Board chair responsibilities. Robert M. Blue will be promoted to president and CEO, while Diane Leopold becomes the sole COO. Edward H. Baine is promoted to president of Dominion Energy Virginia. This transition is part of a succession plan aimed at strengthening leadership as the company focuses on sustainable energy strategies. Farrell emphasizes the importance of this leadership team for future growth.

Dominion Energy (NYSE: D) has announced a quarterly dividend of 94 cents per share, set to be paid on September 20, 2020. Shareholders must be on record by the market close on September 4, 2020. This marks the 370th consecutive dividend payment for the company, indicating a strong commitment to returning value to shareholders. The previous quarterly dividend was declared on May 6, 2020.

On July 23, 2020, Dominion Energy (NYSE: D) announced a significant $35 million initiative aimed at promoting higher education equity for 11 historically black colleges and universities across Virginia, Ohio, North Carolina, and South Carolina. The program includes $25 million in funding for selected institutions and a $10 million scholarship fund for African American and underrepresented minority students in the company's service area. The initiative focuses on operational needs, urgent capital support, endowments, and scholarships to enhance educational opportunities.