Dominion Resources' Dividend Offers 3.9% Yield

Dominion

disclosed that its board has declared a quarterly dividend of 70 cents per share of common stock. The company has been paying a dividend since 1923. Interestingly, in the last twelve-years, it boosted the dividend rate continuously. Dominion's dividend track record for the last five year period suggested a growth rate of 7.22%. The current dividend offered a yield of 3.90%, which was also higher than the five-year average dividend yield of 3.6%. Currently, the company's dividend payout ratio represented 83.0% of its profit. The company indicated that the dividend would be payable on June 20 and fixed June 3 as the record date for determining the names of the shareholders to pay the dividend. It was the 353rd straight dividend that the company or its predecessor has paid its shareholders. Share of the company traded flat at $71.52 on Wednesday.