DTE Energy issues dividend

Rhea-AI Summary

DTE Energy declared a dividend of $0.9525 per share on its common stock, payable on January 15, 2023, to shareholders of record by December 19, 2022. This continues DTE's century-long history of issuing cash dividends. Recently, DTE proposed a $9 billion investment in renewable energy in Michigan, expected to create 25,000 jobs and save $1.4 billion in clean energy transition costs. The company aims to reduce carbon emissions by 50% by 2028, 90% by 2040, and achieve net-zero emissions by 2050.

Positive

• DTE declared a cash dividend of $0.9525 per share, continuing its long-standing dividend history.
• The $9 billion investment in renewables is projected to support 25,000 jobs and reduce clean energy transition costs by $1.4 billion.
• DTE has reduced carbon emissions by 30% since 2005 and is on track for further significant reductions.

Negative

• None.

Company continues more than 100-year history of issuing cash dividend

DETROIT, Nov. 10, 2022 (GLOBE NEWSWIRE) -- (NYSE: DTE) — The DTE Energy Board of Directors declared a $0.9525 per share dividend on its common stock payable Jan. 15, 2023, to shareholders of record at the close of business Dec. 19, 2022.

This follows a quarter of infrastructure improvements designed to increase reliability for customers. This past week, DTE also proposed a transformational investment in Michigan-made renewable energy that would invest $9 billion into Michigan’s economy over the next 10 years, supporting 25,000 jobs, while also reducing the cost of the clean energy transition by a projected $1.4 billion. DTE Electric has reduced carbon emissions 30% since 2005 and has filed accelerated plans to now achieve a 50% reduction by 2028, with targets to achieve 90% by 2040 and net zero by 2050.

About DTE Energy

DTE Energy (NYSE:DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric company serving 2.3 million customers in Southeast Michigan and a natural gas company serving 1.3 million customers in Michigan. The DTE portfolio includes energy businesses focused on power and industrial projects, renewable natural gas, and energy marketing and trading. Through our commitment to cleaner energy, DTE Electric plans to reduce CO2 emissions by 90% and DTE Gas will plan to reduce methane emissions by more than 80% by 2040 to produce cleaner energy while keeping it safe, reliable and affordable. DTE Electric and Gas aspire to achieve net zero carbon emissions by 2050. DTE is committed to serving with its energy through volunteerism, education and employment initiatives, philanthropy and economic progress. Information about DTE is available at dteenergy.com, empoweringmichigan.com, twitter.com/dte_energy and facebook.com.

For further information, members of the media may call:

Pete Ternes, DTE Energy, 313.235.5555

FAQ

What is the dividend amount declared by DTE Energy for January 2023?

DTE Energy declared a dividend of $0.9525 per share, payable on January 15, 2023.

When is the record date for DTE Energy's dividend payment?

The record date for DTE Energy's dividend payment is December 19, 2022.

What are DTE Energy's goals for carbon emissions reduction?

DTE Energy aims to reduce carbon emissions by 50% by 2028, 90% by 2040, and achieve net-zero emissions by 2050.

How much is DTE Energy investing in renewable energy in Michigan?

DTE Energy is proposing a $9 billion investment in renewable energy in Michigan over the next 10 years.

How many jobs will DTE Energy's renewable energy investment create?

The investment is expected to create approximately 25,000 jobs.