Dominion Raises Qtr. Dividend from $0.5275 to $0.5625/Share
The board of directors of Dominion (NYSE: 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.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.