DTE Energy issues dividend
DTE Energy has declared a $0.825 per share dividend, payable on October 15, 2021, to shareholders of record as of September 20, 2021.
Sentiment and the balance of points
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Rhea-AI Summary
DTE Energy has declared a $0.825 per share dividend, payable on October 15, 2021, to shareholders of record as of September 20, 2021. This action continues over a century of dividend payments by the company. The combined dividend from DTE and the recently spun-off DT Midstream (NYSE: DTM) is expected to exceed the pre-spin dividend. The company aims for consistent payout ratios and dividend growth in line with pure-play utility peers.
Positive
- Continued dividend payment history exceeding 100 years.
- Combined dividend from DTE and DTM is anticipated to be higher than pre-spin DTE dividend.
- Commitment to consistent payout ratios and dividend growth.
Negative
- None.
Details
News Market Reaction – DTE
The recorded move for DTE in the trading session of this news was +0.80%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Company continues more than 100-year history of issuing cash dividend; combined dividend of DTE and DTM expected to be higher than pre-spin DTE dividend
Detroit, June 24, 2021 (GLOBE NEWSWIRE) -- DETROIT, June 24, 2021 (NYSE: DTE) — The DTE Energy Board of Directors declared a
As previously announced, our Board of Directors authorized management to spin off the midstream company. “The spin generates a combined dividend of DTE and DT Midstream (NYSE: DTM) that is expected to be higher than DTE’s pre-spin dividend,” said Jerry Norcia, DTE Energy president and CEO.
DTE Energy expects to continue a payout ratio and dividend growth target consistent with pure-play utility companies. DTM plans to establish a growing dividend with an initial level competitive with midstream peers.
DT Midstream expects to provide its first dividend during its second quarter earnings call at a date to be announced.
About DTE Energy
DTE Energy (NYSE: DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric company serving 2.2 million customers in Southeast Michigan and a natural gas company serving 1.3 million customers in Michigan. The DTE portfolio includes energy businesses focused on power and industrial projects; renewable natural gas; natural gas pipelines, gathering and storage; and energy marketing and trading. As an environmental leader, DTE utility operations will reduce carbon dioxide and methane emissions by more than 80 percent by 2040 to produce cleaner energy while keeping it safe, reliable and affordable. DTE Electric, DTE Gas and DTE Midstream aspire to achieve net zero carbon and greenhouse gas emissions by 2050. DTE is committed to serving with its energy through volunteerism, education and employment initiatives, philanthropy and economic progress. Information about DTE is available at dteenergy.com, empoweringmichigan.com, twitter.com/dte_energy and facebook.com.
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