DTE Energy issues dividend

Rhea-AI Summary

DTE Energy has declared a $0.825 per share dividend, payable on October 15, 2021, to shareholders of record as of September 20, 2021. This action continues over a century of dividend payments by the company. The combined dividend from DTE and the recently spun-off DT Midstream (NYSE: DTM) is expected to exceed the pre-spin dividend. The company aims for consistent payout ratios and dividend growth in line with pure-play utility peers.

Positive

• Continued dividend payment history exceeding 100 years.
• Combined dividend from DTE and DTM is anticipated to be higher than pre-spin DTE dividend.
• Commitment to consistent payout ratios and dividend growth.

Negative

• None.

Company continues more than 100-year history of issuing cash dividend; combined dividend of DTE and DTM expected to be higher than pre-spin DTE dividend

Detroit, June 24, 2021 (GLOBE NEWSWIRE) -- DETROIT, June 24, 2021 (NYSE: DTE) — The DTE Energy Board of Directors declared a $0.825 per share dividend on its common stock payable Oct. 15, 2021 to shareholders of record at the close of business Sept. 20, 2021. This continues DTE Energy's history issuing a cash dividend for more than 100 years. The October dividend reflects the company’s performance as a predominantly pure-play utility company.

As previously announced, our Board of Directors authorized management to spin off the midstream company. “The spin generates a combined dividend of DTE and DT Midstream (NYSE: DTM) that is expected to be higher than DTE’s pre-spin dividend,” said Jerry Norcia, DTE Energy president and CEO.

DTE Energy expects to continue a payout ratio and dividend growth target consistent with pure-play utility companies.  DTM plans to establish a growing dividend with an initial level competitive with midstream peers.

DT Midstream expects to provide its first dividend during its second quarter earnings call at a date to be announced.

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 2.2 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; natural gas pipelines, gathering and storage; and energy marketing and trading. As an environmental leader, DTE utility operations will reduce carbon dioxide and methane emissions by more than 80 percent by 2040 to produce cleaner energy while keeping it safe, reliable and affordable. DTE Electric, DTE Gas and DTE Midstream aspire to achieve net zero carbon and greenhouse gas 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. 

FAQ

What is the DTE Energy dividend amount for 2021?

DTE Energy declared a dividend of $0.825 per share.

When is the DTE Energy dividend payment date?

The dividend is payable on October 15, 2021.

What is the record date for the DTE Energy dividend?

The record date for the dividend is September 20, 2021.

How does the DTE Energy dividend after spin-off compare to the previous dividend?

The combined dividend of DTE and DTM is expected to be higher than the pre-spin DTE dividend.

What are DTE Energy's goals regarding dividends?

DTE Energy aims for a payout ratio and dividend growth consistent with pure-play utility companies.