Dominion Energy Cuts Its Dividend by 33%
Dominion Energy (NYSE: D) has sliced its quarterly dividend. On Wednesday, the big regional gas and electricity provider declared that its next payout will be $0.63 per share, to be paid on Dec. 20 to investors of record as of Dec. 4.
That represents a reduction of 33% from Dominion's previous dividend of $0.94, which was handed out in mid-September. The dividend cut naturally means a decline in its yield, which at the current share price is 3%.
Meanwhile, it should be remembered that Dominion remains a very steady and reliable dividend payer. In the press release announcing the modified payout, the company took pains to mention that this will be the 371st consecutive dividend paid by it and its predecessor company.
Source Fool.com
