Duke Energy Corp - DUK STOCK NEWS

Duke Energy has declared a quarterly cash dividend of $0.965 per share, up $0.02, payable on Sept. 16, 2020, to shareholders of record by Aug. 14, 2020. Additionally, the Series A preferred stock dividend is set at $359.375 per share, also payable on Sept. 16, 2020. The Series B preferred stock dividend is $24.375 per share, due on the same date. Duke Energy has maintained dividend payments on its common stock for 94 consecutive years.

Duke Energy (NYSE: DUK) announced its commitment to pursue clean energy goals following the discontinuation of the Atlantic Coast Pipeline. The company will invest $56 billion in renewables, energy efficiency, and grid enhancements, promoting economic recovery and job creation. Duke Energy has reduced carbon emissions by 39% since 2005 and aims for a 50% reduction by 2030, with a long-term goal of net-zero emissions by 2050. An analyst call is scheduled for early August 2020 to discuss financial results.

Piedmont Natural Gas has filed a request to increase its base rates by 15% with the Tennessee Public Utility Commission, marking the first adjustment since 2012. The company has invested about $600 million in infrastructure to meet the needs of a growing population in the Nashville area, which has increased by 11.2% since 2010. If approved, the average residential customer's monthly bill would rise by $11, effective January 1, 2021, yet bills would remain 10% lower than in July 2018.

Duke Energy Progress announced a decrease in monthly bills for its South Carolina customers starting July 1, 2020. A typical residential customer using 1,000 kWh will see a reduction from $124.98 to $120.87, which is a 3.3% drop. Commercial and industrial customers will also experience reduced bills, averaging 1.6% and 2.9%, respectively. The primary driver for these decreases is the falling price of natural gas. Duke Energy aims to manage fuel costs effectively, ensuring customer savings.

Bank of America has partnered with Duke Energy to enhance its renewable energy commitment by utilizing solar power for its Charlotte operations. Through a unique 10-year renewable energy sleeved-power purchase agreement (PPA), the bank will procure a 25-MW solar project's output, covering 45% of its electricity load in North Carolina. This initiative aligns with Bank of America's goal to achieve carbon neutrality and utilize 100% renewable electricity globally. The project, located in North Carolina's Piedmont region, is expected to support local jobs and the economy.

Duke Energy has announced a grant of $903,828 to support apprenticeship programs at eight community colleges in North Carolina. This initiative fulfills the company's $5 million commitment made in 2017. Since 2004, Duke Energy has contributed a total of $45 million to community colleges in the state. The funding connects over 2,800 students with job opportunities, emphasizing the importance of community colleges in training the future workforce. The grants represent the final round of funding in the apprenticeship program, which was administered by local foundations.

Duke Energy announced its Renewable Advantage program, enabling North Carolina customers to enhance their energy sustainability for just $3 extra per month. This fee supports the generation of 250 kWh blocks of renewable energy, primarily solar. The initiative, expected to generate 95% solar and 5% biomass energy, allows customers to customize their energy mix while contributing 50 cents from each block purchased to the NC GreenPower's Solar+ Schools program, benefiting local schools and promoting renewable energy education.

Piedmont Natural Gas, a subsidiary of Duke Energy, announced additional measures to support customers facing financial challenges due to COVID-19. This includes suspending disconnections and late fees, as well as offering online tools for payment arrangements. The company donated $6 million for COVID-19 relief across several states, including Florida and North Carolina. As recovery begins, Piedmont will resume billing practices and provide assistance options to help customers manage their energy costs effectively.

Duke Energy and Piedmont Natural Gas announced enhanced assistance for customers facing financial difficulties due to COVID-19. They are extending support measures, including suspending disconnections and fees while contributing $6 million to relief efforts across several states. Customers will receive online tools for payment arrangements and guidance for small businesses. Standard billing practices will resume based on local guidance, with prior notifications given to customers. The companies aim to offer consistent care as the economy reopens, emphasizing support for those in need.