Dominion Board of Directors Affirms Dividend Policy; Targets Payout Ratio of 60-65%
The board of directors of Dominion (NYSE: D) today affirmed the dividend policy it set in December 2010 to target a dividend payout ratio of approximately 60-65 percent of expected earnings. The company expects that the payout ratio will be near the top end of that range in 2012.
The board will set the 2012 dividend rate and declare the first-quarter dividend at its January meeting. In 2011, Dominion paid to its shareholders of record dividends of $1.97 per share of common stock.
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