Dominion Keeps Dividend Level

Dominion Resources is maintaining its dividend, despite some recent concern about pricing. The company will distribute $0.5625 per share of its common stock on June 20 to shareholders of record as of June 7. This matches the amount of the company's previous quarterly handout, which was dispensed in March. Before that, it paid $0.5275 per share.

The dividend declaration comes on the heels of Dominion's application for a fuel rate increase. The company says that if approved by the Virginia State Corporation Commission, this would result in an additional cost of $2.36 for the average customer currently paying $108.39 for a monthly, 1,000-kilowatt-hour bill.

The current dividend annualizes to $2.25 per share. That yields 3.7% at Dominion's current stock price of $60.91.

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