Duke Energy Corp - DUK STOCK NEWS

Duke Energy has announced that a severe winter storm forecasted for January 15, 2022, could lead to power outages affecting up to 750,000 customers in North Carolina and South Carolina. In preparation, Duke has deployed over 10,000 workers, including 4,100 from external companies, to assist in restoration efforts. The storm is expected to cause significant ice accumulation, leading to downed power lines and extended outages. Damage assessment will commence post-storm, and Duke Energy will provide updates through various communication channels.

Duke Energy is preparing for potential winter storm impacts in the Carolinas as snow and ice are forecast. Heavy precipitation may cause power outages, prompting the utility to mobilize nearly 600 personnel from other areas and secure assistance from 1,000 workers from other utilities. The company emphasizes safety and encourages customers to prepare for outages by stocking essentials. Duke Energy's storm response teams will follow social distancing protocols during restoration efforts. The company serves 7.9 million customers across several states and has significant renewable energy goals.

Duke Energy will announce its fourth-quarter and year-end 2021 financial results on February 10, 2022, at 7 a.m. ET. The results will be shared in a news release available on the company's investor website. An earnings conference call for analysts will occur from 10 to 11 a.m. ET the same day, discussing the financial results and providing 2022 adjusted earnings per share guidance. The company serves 7.9 million electric customers across several states and is committed to a clean energy strategy aimed at significant carbon reductions.

Duke Energy has declared a quarterly cash dividend of $0.985 per share on its common stock, payable on March 16, 2022, to shareholders of record by February 18, 2022. The Series A preferred stock dividend is set at $359.375 per share, while the Series B preferred stock will have a semiannual dividend of $24.375. Duke Energy boasts a history of consistent dividends, having paid cash dividends for 96 consecutive years. The company aims for a 50% carbon reduction by 2030 and net-zero emissions by 2050, reinforcing its commitment to sustainable energy solutions.

Duke Energy Florida is investing $200,000 in economic development initiatives aimed at attracting and growing businesses throughout the state. These funds will support various community partners, helping to address recruitment and workforce challenges. Notably, Enterprise Florida received a $25,000 grant to enhance its collaboration with site selection consultants and corporate real estate executives through Team Florida events. Other grants were allocated to several organizations, focusing on marketing, workforce development, and business attraction across different regions of Florida.

Duke Energy has announced the allocation of $250,000 in grants to support educational and community initiatives across Florida. These grants aim to assist various organizations addressing economic challenges and enhance educational opportunities. Notable recipients include Find, Feed & Restore, which supports homeless families, and the Foundation for Seminole State College, which offers workforce training. The company emphasizes the importance of these programs in helping families and students overcome barriers, especially during ongoing academic challenges.

Piedmont Natural Gas has requested approval from North Carolina and South Carolina utility commissions to lower customer billing rates due to a decline in natural gas market costs. If approved, residential bills will drop by approximately $5 monthly, totaling $15 for Q1 2022, effective Jan. 1, 2022. The company emphasizes its commitment to pass on market costs without markup. Piedmont encourages customers to use their Equal Payment Program and offers assistance programs for those facing financial difficulties.

The Duke Energy Foundation has awarded $523,000 in grants to enhance emergency preparedness and support diversity initiatives across Florida. The funding benefits 26 organizations, including local emergency management departments, which aid during disasters. Notable projects include Orange County's mobile Community Resilience Pod for emergency aid and support for Hispanic entrepreneurs through Prospera. Duke Energy aims to bolster community resilience while promoting social justice. The foundation allocates over $30 million annually, funded by Duke Energy shareholder dollars.

Duke Energy Florida has proposed a fuel adjustment to manage the impact of rising natural gas prices on customer bills. The adjustment will take effect in March 2022, spreading recovery of $247 million in fuel costs over two years, which is expected to increase residential bills by an average of $6.62 per month. Commercial customers may see increases between 4% and 10%. The company aims to minimize financial strain on consumers and maintain cost-effective energy management amidst a 45% rise in natural gas prices since January 2021.