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Stock Market & Financial Investment News

News Breaks
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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September 2, 2014
08:08 EDTDDominion, Duke Energy, Piedmont Natural Gas, and AGL forms joint venture
Dominion (D), Duke Energy (DUK), Piedmont Natural Gas (PNY) and AGL Resources (GAS) announced the formation of a joint venture to build and own the proposed Atlantic Coast Pipeline. The $4.5B-$5B, 550-mile natural gas pipeline would run from Harrison County, W. Va., southeast through Virginia with an extension to Chesapeake, Va., and then south through central North Carolina to Robeson County. The partnership, called Atlantic Coast Pipeline LLC, will own the pipeline initially proposed by Dominion as the Southeast Reliability Project. Dominion is to build and operate the Atlantic Coast Pipeline on behalf of the venture. The joint venture ownership stakes are: Dominion, 45%; Duke Energy, 40%; Piedmont, 10%; and AGL Resources, 5%. Dominion expects to file its FERC application in the summer of 2015, receive the FERC Certificate of Public Convenience and Necessity in the summer of 2016, and begin construction shortly thereafter.

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