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Stock Market & Financial Investment News

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December 18, 2012
12:46 EDTDDominion increases annual dividend rate 6.6% to $2.25 per share
The board of directors of Dominion set a new goal to achieve a 65%-70% dividend payout ratio. The new policy replaces one established in December 2010 to achieve a 60%-65% payout ratio. The board also set a 2013 dividend rate of $2.25 per share of common stock, up from $2.11 per share in 2012, or a 6.6% increase. Subject to board declaration in January, the first quarterly dividend of 56.25c per share will be payable in March 2013.
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October 30, 2014
08:40 EDTDDominion begins construction activities for Cove Point LNG export project
Dominion has begun construction-related activities for the Cove Point Liquefied Natural Gas Export project. Leopold noted that the project underwent a comprehensive three-year regulatory review and approval process designed to ensure the project meets all safety, environmental and other requirements. Construction activities have begun at the LNG terminal with initial preparations for worksite clearing and grading. Activities were initiated earlier this month at two off-site locations, a temporary pier being built on the Pautuxent River to receive barge shipments of large equipment and a temporary location for offices, material staging and parking for project construction workers. The Cove Point LNG Export project is estimated to cost between $3.4 billion and $3.8 billion and will create thousands of skilled construction jobs, 75 permanent jobs and an additional $40 million in annual tax revenue to Calvert County. The county today receives $15.7 million a year from the LNG import facility. The proposed export facility will be within the 131-acre footprint of the existing LNG terminal site. No new pipelines or storage tanks are needed at the facility. It is targeted to begin operations in late 2017.

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