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The board of directors of
Dominion
D today set a new goal to achieve a 65-70 percent dividend
payout ratio. The new policy replaces one established in December 2010 to
achieve a 60-65 percent 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
percent increase. Subject to board declaration in January, the first quarterly
dividend of 56.25 cents per share will be payable in March 2013.
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