Dte Energy Co - DTE STOCK NEWS

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.

DTE Energy Company (NYSE: DTE) has extended key deadlines for its consent solicitations and tender offers originally announced on June 14, 2021. The extension affects the Early Tender Deadline, Withdrawal Deadline, and Expiration Time by one business day. New deadlines include the Price Determination Date now set for June 28, 2021, and the Expiration Time on July 13, 2021. The company is working to purchase outstanding senior notes up to a combined maximum price of $350 million. All other terms remain unchanged from the Offer to Purchase.

Detroit Diesel has announced its enrollment in DTE Energy's MIGreenPower program, committing to attribute 100,000 megawatt hours of renewable energy annually by 2028. This initiative is aimed at offsetting greenhouse gas emissions equivalent to 15,412 passenger vehicles driven for a year. It complements Detroit Diesel's goal of achieving carbon neutrality by 2039. The program, which is among the top three voluntary renewable energy initiatives in the U.S., has already attracted significant corporate participation, including General Motors and Ford.

DTE Energy Company (NYSE: DTE) announced the commencement of its Tender Offers to purchase for cash up to $350 million of certain notes. The offers include Any-and-All Tender Offers and Maximum Tender Offers, aiming to amend indenture provisions such as reducing the notice requirement for optional redemptions. The Total Consideration will be determined based on the fixed spread over U.S. Treasury yields. The tender offers expire on July 12, 2021, with an early tender deadline on June 25, 2021. The offers are dependent on the Financing Condition and Spin-Off Condition.

DTE Energy has reported significant achievements in energy efficiency, resulting in nearly $400 million in cumulative lifetime savings for customers. In 2020, the company’s efficiency programs led to lifetime reductions of 6.1 million metric tons of CO2 and other pollutants. Key initiatives include the Energy Efficiency Assistance program, which supported over 23,000 low-income customers. DTE processes over 400,000 applications annually for commercial programs, achieving customer satisfaction scores above 92%. The company aims for an 80% reduction in carbon emissions by 2040.

DTE Energy has announced new initiatives to enhance renewable energy accessibility following approval from the Michigan Public Service Commission. The MIGreenPower program will see cost reductions and simpler enrollments. Community solar projects are planned in Detroit, Highland Park, and River Rouge to support low-income residents, providing 100% renewable energy and bill credits. By 2023, DTE aims to exceed 2,700 megawatts of renewable energy capacity, enough to power approximately 900,000 homes. These efforts align with DTE's commitment to achieve net zero carbon emissions by 2050.

DTE Energy Company (NYSE: DTE) announced the successful closing of a $2.1 billion debt offering for DT Midstream, Inc., an upcoming independent public company from its planned spin-off. The offering includes $1.1 billion of 4.125% Senior Notes due 2029 and $1 billion of 4.375% Senior Notes due 2031. Proceeds will be used to repay intercompany obligations and pay dividends to DTE Energy. The separation is expected to be tax-free for shareholders, and a registration statement has been filed with the SEC. Forward-looking statements indicate some risks related to the spin-off process.

DTE Energy has announced that Lecom Utility, Inc. has enrolled in its MIGreenPower program, committing to clean energy that will prevent 306 tons of CO2 emissions. This partnership reflects a shared dedication to sustainability, with Lecom contributing to the development of future renewable projects in Michigan. Since its launch in 2017, MIGreenPower has supported 1.8 million megawatt hours of clean energy, avoiding 1.4 million tons of CO2. DTE plans to expand its clean energy generation by 1,000 megawatts in the next two years.