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February 2, 2005
Dominion Declares Quarterly Dividend
of 67 Cents Per Share
RICHMOND, Va. - The board of directors of Dominion (NYSE:
D) has declared a quarterly dividend of 67 cents per share of common stock,
effective Feb. 1, 2005.
The declaration represents a one half-cent increase over Dominion’s
previous quarterly dividend of 66.5 cents per share and brings the company’s
2005 annual dividend rate to $2.68 per share. That represents an 8-cent increase
in the 2005 annual dividend rate compared to 2004. The company announced plans
for the increase last year. Dividends are payable on March 20, 2005, to shareholders
of record Feb. 25, 2005.
This is the 308th consecutive dividend that Dominion or its
predecessor company has paid holders of common stock. The company’s last
quarterly dividend was declared Oct. 15, 2004.
The board of directors of Virginia Electric and Power Company,
a subsidiary of Dominion, also declared regular quarterly dividends at the prescribed
rates on each of its series of preferred stock. Preferred dividends on the company's
fixed-rate preferred stock are payable March 20, 2005 to holders of record at
the close of business Feb. 25, 2005.
This release contains forward looking statements regarding
our expectations for future dividends. Any declaration of future dividends is
subject to approval by the company's Board of Directors.
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