Dominion Resources (D) Raises Quarterly Dividend 7.9% to $0.6475; 3.4% Yield

Dominion Resources (NYSE: D) declared a quarterly dividend of $0.6475 per share, or $2.59 annualized. This is a 7.9% increase from the prior dividend of $0.60.

The dividend will be payable on March 20, 2015, to stockholders of record on February 27, 2015, with an ex-dividend date of February 25, 2015.

The annual yield on the dividend is 3.4 percent.

The board also set a new goal to achieve a 70-75 percent dividend payout ratio in 2015 through the end of the decade. The new policy replaces one established in December 2012 to achieve a 65-70 percent payout ratio.

Thomas F. Farrell II, chairman, president and chief executive officer, said:

"The new targeted dividend payout ratio and rate reflect Dominion's confidence in achieving 6-7 percent operating earnings per share growth through 2020 and in the expected value of Dominion Midstream's cash flows to Dominion shareholders."

For a dividend history and other dividend-related data on Dominion Resources (D) click here.

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