DTE Energy Company - DTE STOCK NEWS

DTE Energy has announced that its 2025 Annual Meeting of Common Stock Shareholders will take place on Thursday, May 8. Shareholders who own stock as of the record date of March 11, 2025, will be eligible to participate and vote at the meeting. Those interested in proposing business or nominating directors from the floor must submit their notice and required information to the corporate secretary by January 2, 2025.

DTE Energy has announced its Board of Directors has declared a quarterly dividend of $1.09 per share on its common stock. The dividend will be payable on January 15, 2025, to shareholders of record as of the close of business on December 16, 2024. This declaration continues the company's remarkable track record of over 100 years of consistent cash dividend payments to shareholders.

The DTE Energy Foundation has awarded $310,000 to 12 non-profit organizations across Michigan through its first Community Transformation Grant Program. The initiative, which initially planned to distribute $150,000, was doubled due to overwhelming need and project submissions. The grants support organizations focusing on community transformation, including housing services, youth empowerment, park restoration, education, and entrepreneurship programs.

The selected organizations span various locations including Detroit, Grand Rapids, Escanaba, Ypsilanti, and Lapeer, supporting diverse initiatives from emergency shelter services to youth art programs. The Foundation's Community Transformation pillar prioritizes placemaking, positive family development, and community-driven solutions.

DTE Energy (NYSE:DTE) announced a $100 million investment to construct three new electric substations in Northville Township ($57M), Pontiac ($17M), and Shelby Township ($39M). This initiative is part of DTE's commitment to reduce power outage frequency by 30% and cut restoration time in half by 2029. The substations will be equipped with smart grid technology to monitor and automatically adjust power supply. The projects include installing new poles, power lines, and electric equipment. Additionally, DTE is rebuilding power delivery infrastructure across its service territory with a dozen substations in various stages of completion in multiple townships.

DTE Energy announced a reduction in electric bills by passing approximately $300 million in fuel and transportation cost savings to customers through 2025. The reduction, effective November 1, 2024, will lower residential customers' bills by about $5 per month through the Power Supply Cost Recovery mechanism (PSCR). The company is committed to keeping operating costs low while building the electric grid of the future and plans to eliminate coal use by 2032. DTE aims to reduce power outages by 30% and cut outage duration in half by 2029.

DTE Energy is preparing customers for expected increases in winter energy usage by providing resources and tips for managing consumption and costs. The company, which recently earned top scores in Customer Satisfaction with Business Natural Gas Service in the Midwest, buys natural gas in advance when costs are lower to maintain affordability. Key recommendations include setting thermostats to 68 degrees during the day, which can save 3% on heating costs per degree lowered, and sealing air leaks to save up to 10% on annual energy costs. DTE offers financial assistance programs and encourages customers facing payment difficulties to contact them at 800-477-4747 for support options.

The DTE Energy Foundation has announced a new round of grants totaling $420,000 to support 45 state-funded domestic violence shelters across Michigan. This latest contribution brings the Foundation's total support to over $3 million over the past six years. The DTE Foundation stands as the only supporter providing grants to all state-funded domestic violence shelters in Michigan, from the Upper Peninsula to southern Michigan.

The grants, distributed based on bed count, support critical expenses including housing, transportation, employment assistance, healthcare needs, and help navigating the criminal justice system. These shelters receive partial funding from the Michigan Department of Health and Human Services (MDHHS), which acknowledges the essential role of private organizations like DTE Foundation in meeting growing needs.

DTE Energy has been ranked #1 in Customer Satisfaction with Business Natural Gas Service in the Midwest by J.D. Power's 2024 study. The company scored highest in Price and Corporate Citizenship categories. DTE's success in pricing reflects its strategy of purchasing and storing natural gas when prices are lower. In 2023, nearly 4,000 DTE employees volunteered over 75,000 hours with 862 nonprofits. The company invested $2.7 billion with Michigan businesses, creating over 12,000 jobs. DTE serves nearly 90,000 businesses and offers various services including energy efficiency programs, a dedicated business call center, and enhanced web experience.

DTE Energy has commenced operations at Sauk Solar, its largest solar park located in Branch County, Michigan. The 150-megawatt facility features nearly 347,000 solar panels and can power approximately 40,000 homes. This project is the first of six new solar parks funded through DTE's CleanVision MIGreenPower program. The development created over 350 local jobs during construction and will provide Branch County with millions in tax revenue. The project advances DTE's goals of achieving net zero carbon emissions and meeting Michigan's 60% renewable energy standard by 2035. DTE currently powers over 750,000 homes with clean energy and aims to increase this to 5.5 million homes by 2042.