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January 26, 2006
Dominion Increases Quarterly Dividend By 2 Cents
To 69 Cents
RICHMOND, Va. — The board of directors of Dominion (NYSE:
D) has increased its quarterly dividend by 2 cents to 69 cents per share of
common stock, effective January 24, 2006.
The 2-cent increase over Dominion’s previous quarterly
dividend of 67 cents per share is in accordance with previous announcements
and brings the company’s 2006 annual dividend rate to $2.76 per share.
This represents an 8-cent increase in the 2006 annual dividend rate compared
to 2005. Dividends are payable March 20, 2006, to shareholders of record February
24, 2006.
This is the 312th consecutive dividend that Dominion or its
predecessor company has paid holders of common stock. The company’s last
quarterly dividend was declared October 28, 2005.
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, 2006 to holders of record at
the close of business February 24, 2006.
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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