Welcome to our dedicated page for Dte Energy news (Ticker: DTE), a resource for investors and traders seeking the latest updates and insights on Dte Energy stock.
DTE Energy reports developments across its Detroit-based diversified energy business, including regulated electric service in Southeast Michigan and regulated natural gas service across Michigan. News commonly covers utility capital investments, electric reliability programs, cleaner generation, natural gas system upgrades, Michigan Public Service Commission rate matters, and large-load service agreements tied to data center demand.
Recurring updates also include quarterly and annual earnings, operating earnings commentary, common stock dividend declarations, customer energy assistance, energy efficiency programs, and activity in DTE's energy businesses focused on custom energy solutions, renewable energy generation, and energy marketing and trading.
DTE Energy has launched the Tree Trim Academy aimed at creating 200 high-paying jobs in Detroit over the next three years. In partnership with IBEW Local 17 and Focus: HOPE, this initiative will provide paid training and essential services such as childcare and transportation for job seekers. The Academy will train 60 graduates in its inaugural year, equipping them with skills for tree trimming jobs, which are crucial for maintaining energy reliability. Graduates can potentially earn over $100,000 annually, contributing to community employment and safety.
DTE Energy's MIGreenPower program welcomes Brose, a leading automotive supplier, as a participant.
Brose will purchase 11,445 megawatt hours of clean energy annually, avoiding 81,110 metric tons of CO2 emissions over a 10-year contract, equivalent to the carbon sequestered by 99,000 acres of U.S. forests in one year.
The clean energy commitment supports Brose's sustainability goals and will be sourced from new clean energy projects set to come online in early 2023.
DTE Energy has announced the enrollment of the Automotive Hall of Fame (AHF) in its MIGreenPower program, making it the first museum to join. AHF will now attribute 100% of its energy consumption to Michigan wind and solar projects. DTE is also assisting AHF in implementing energy-efficient measures following a complimentary energy audit. Since its launch, MIGreenPower has facilitated 1.8 million megawatt hours of clean energy. DTE Energy aims to achieve significant carbon emission reductions by 2040.
DTE Energy announced the full redemption of its 2016 Series B 5.375% Junior Subordinated Debentures on June 30, 2021. The redemption price will be 100% of the unpaid principal, plus accrued interest. Holders can redeem these debentures in minimum denominations of $25. For inquiries, holders should contact their broker or the paying agent, Bank of New York Mellon Trust Company. This announcement reflects DTE's ongoing commitment to managing its financial obligations effectively.
DTE Energy announced the pricing of DT Midstream's $1.1 billion offering of 4.125% Senior Notes due 2029 and $1 billion of 4.375% Senior Notes due 2031. Proceeds will be used for intercompany obligations and dividends to DTE Energy. The Notes will be privately placed under SEC regulations and have not been registered. The spin-off of DT Midstream, which is undergoing SEC review, aims to be tax-free for DTE Energy shareholders, who will receive a pro-rata dividend of DT Midstream stock.
DTE Energy announced plans for a spin-off of its non-utility natural gas pipeline business, DT Midstream. The new independent company will offer senior notes to repay short-term borrowings owed to DTE Energy. The offering will be conducted under Rule 144A and Regulation S, targeting qualified institutional buyers and non-U.S. persons. Successful completion of the spin-off is contingent on several approvals, with shareholders receiving pro-rata shares of DT Midstream. The transaction aims to be tax-free under U.S. federal income tax.
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DTE Energy announced the planned spin-off of its non-utility natural gas pipeline, storage, and gathering business into a new independent entity, DT Midstream. DT Midstream has initiated syndication of a new senior secured credit facility with a total capacity of up to $1.75 billion, comprising a $1 billion term loan and a $750 million revolving credit facility. Proceeds will repay intercompany obligations and pay a dividend to DTE Energy. The spin-off is subject to approval by DTE Energy's Board and regulatory bodies, expected to be tax-free for shareholders.
DTE Energy (NYSE: DTE) has announced the formation of the Board of Directors for DT Midstream, a new independent company to be established from its non-utility natural gas pipeline, storage, and gathering business. This spin-off is projected to be completed in July 2021. The board will consist of seven members, including five independent directors, with Robert Skaggs, Jr. as executive chair and David Slater as president and CEO. A Form 10 registration statement has been filed with the SEC, and the separation is expected to be tax-free for shareholders. Shareholders will receive a pro-rata dividend of DT Midstream shares.
DTE Energy has declared a $1.085 per share dividend on its common stock, continuing a tradition of over 100 years of cash dividends. The dividend is payable on July 15, 2021, to shareholders of record as of June 21, 2021. DTE's president, Jerry Norcia, emphasized the importance of this dividend for shareholders, reflecting the company's commitment to delivering consistent returns. The company continues to enhance its portfolio in energy-related services, aiming for significant reductions in carbon emissions by 2040 and net-zero emissions by 2050.