Duke Energy Corporation - DUK STOCK NEWS

Duke Energy (NYSE: DUK) has declared a quarterly cash dividend of $1.005 per share, marking an increase of $0.02. This dividend is payable on Sept. 16, 2022, to shareholders of record as of Aug. 12, 2022. Additionally, dividends for Series A and Series B preferred stocks were declared at $359.375 and $24.375 per share, respectively. Duke Energy has maintained a cash dividend payout for 96 consecutive years, showcasing its commitment to shareholder returns.

Duke Energy will announce its second-quarter financial results on Aug. 4 at 7 a.m. ET on its website. A conference call for analysts will follow at 10 a.m. ET to discuss these results. The call features Lynn Good, CEO, and Steve Young, CFO. Investors can access the call via phone or on the company's investors' section online. A recording will be made available on Aug. 5. Duke Energy, serving 8.2 million customers across several states, is focused on clean energy goals, including reducing carbon emissions significantly by 2030 and achieving net-zero carbon emissions by 2050.

Duke Energy Florida's self-healing technology has significantly reduced power outages, avoiding nearly 250,000 extended outages in 2021, saving about 17 million minutes of customer downtime. Currently, 53% of customers benefit from this technology, with a goal of reaching 80% in less than a decade. The company has also achieved a 20% reduction in average outage duration over the past five years. Investments in infrastructure and clean energy transitions are ongoing, aiming for net-zero carbon emissions by 2050.

The Duke Energy Foundation has awarded $96,000 to Joules Accelerator to create a program enabling college students to assist clean-tech startups in the Carolinas. This initiative, named Joules Camp, aims to enhance community resilience and sustainability through student involvement in decarbonization efforts. Emphasizing diversity and inclusion, at least half of the interns will come from underrepresented backgrounds. Duke Energy is committed to achieving net-zero emissions by 2050, highlighting its ongoing clean energy transition.

Newly enacted Senate Bill 1077 in South Carolina empowers the Public Service Commission to approve plans for securitizing storm-related costs, potentially saving electric customers millions. The law, supported by bipartisan cooperation and quickly signed by Governor Henry McMaster, addresses the financial impact of recent severe weather events on utility companies like Duke Energy. Similar legislation has already been passed in coastal states including Texas and Florida. This approach allows for lower interest rates on bonds issued to cover storm recovery costs, ensuring more cost-effective service restoration for customers.

Duke Energy Progress has filed for an annual adjustment of fuel and renewable energy costs with the North Carolina Utilities Commission, seeking to recover increased fuel expenses due to rising demand and commodity prices. If approved, customer bills will increase starting December 1, 2022, with typical residential bills rising by 8.4%, or approximately $10.58. The proposed adjustments factor in a $210 million under-recovery from the previous year. Duke Energy continues to seek ways to minimize fuel costs and has initiated energy-saving programs to benefit customers.

Duke Energy Carolinas achieved a new summer peak electricity usage record of 21,086 megawatt-hours on June 13, 2022, surpassing the previous record of 20,671 megawatt-hours from July 2016. Combined with Duke Energy Progress, a total peak usage of 34,079 megawatt-hours was recorded. The company emphasizes its preparedness for extreme temperatures through its diverse energy mix and robust planning. Duke Energy is also focused on enhancing grid resilience against severe weather and advancing its clean energy transition, aiming for net-zero carbon emissions by 2050.

Duke Energy has completed the largest floating solar facility in the Southeast at Fort Bragg, North Carolina. This 1.1-megawatt solar plant is part of a $36 million energy services contract aimed at enhancing energy resilience and modernization at the base. The project also features a 2-MW battery storage system to provide power during outages. Duke Energy's Chief Strategy Officer, Brian Savoy, emphasized the innovation and energy efficiency this project brings. This installation contributes to the Army's Climate Strategy by boosting clean energy and reducing greenhouse gas emissions.

Duke Energy has completed its first community solar site, the Fort Green Renewable Energy Center, in Hardee County, Florida. This site is the initial step in a larger project consisting of 10 solar installations totaling 750 MW. The Clean Energy Connection program allows customers to subscribe to solar power, offering monthly bill credits based on production. The program features a fixed fee of $8.35 per kW, with income-qualified customers benefiting from a higher credit of $9.03. This initiative aims to enhance solar energy accessibility and supports Duke Energy's commitment to cleaner energy.