Welcome to our dedicated page for Duke Energy news (Ticker: DUK), a resource for investors and traders seeking the latest updates and insights on Duke Energy stock.
Duke Energy Corporation reports developments tied to one of the largest regulated utility platforms in the United States. The company operates electric utilities serving customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and natural gas utilities in North Carolina, South Carolina, Ohio and Kentucky.
Recurring news themes include quarterly financial results, common and preferred stock dividends, electric grid modernization, generation investments, customer cost initiatives, and regulatory approvals affecting power plants and utility service. Company updates also cover nuclear generation, natural gas and other resource additions, federal and state regulatory matters, and Duke Energy Foundation community programs in the utility territories it serves.
Duke Energy has restored power to nearly 70% of the over 500,000 customers affected by Tropical Storm Zeta in North and South Carolina. As of 4:30 p.m. ET, 165,000 customers remain without electricity, with a significant number of workers engaged in restoration activities. Damage assessments are ongoing, with challenges faced due to unexpected storm intensity. The restoration process prioritizes public safety facilities and maximizes customer restoration. Customers can access storm updates and report outages through Duke Energy's website and mobile app.
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Duke Energy is prepared for power restoration efforts following the remnants of Hurricane Zeta, with over 2,600 workers mobilized, primarily in South Carolina and North Carolina. Additionally, 300 workers from the Midwest and Florida are on standby to assist. The company emphasizes adherence to CDC guidelines for COVID-19 safety during restoration. Customers are encouraged to prepare by signing up for outage alerts and creating emergency supply kits. Duke Energy is actively monitoring lake levels to mitigate potential flooding from increased water flow.
Duke Energy declared a quarterly cash dividend of $0.965 per common share, payable on December 16, 2020, to shareholders on record by November 13, 2020. Additionally, a quarterly dividend of $359.375 per Series A preferred share will also be paid on the same date to shareholders of record by the same date. This marks the company's 94th consecutive year of cash dividend payments, reflecting its commitment to shareholder returns and stable financial performance.
Duke Energy Foundation has allocated nearly $260,000 in grants to support Florida communities, focusing on accessibility to the arts, diversity, inclusion, and COVID-19 challenges. The funding will benefit 19 nonprofits, including Prospera, which assists Hispanic entrepreneurs. Grants include $50,000 to help enhance disaster preparedness for Hispanic-owned businesses and smaller amounts for various educational and community programs across Florida. Duke Energy contributes over $30 million annually in charitable gifts, funded by shareholder dollars.
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On Oct. 8, 2020, Duke Energy announced three Florida properties selected for its Site Readiness Program: Tropicana Field in Pinellas County, 472 Properties in Volusia County, and Frostproof Business Park in Polk County. This initiative has generated $165 million in investments and created 615 jobs over seven years. The program aims to enhance the sites' infrastructure for future commercial and industrial developments, supporting economic growth in local communities. Duke Energy's efforts have led to an impressive $8.3 billion in capital investments across its service areas.
The Public Service Commission of South Carolina has approved two electric transportation pilot programs by Duke Energy, aiming to enhance EV infrastructure in the state. The programs include a Fast Charging initiative, featuring 60 fast chargers with a power output of 100 kW, and a Residential EV Charging program providing $1,000 incentives to 400 customers installing Level 2 charging stations. These developments are set to commence on January 1, 2021, and will facilitate EV market growth, reduce emissions, and promote fuel cost savings for residents.
Duke Energy Foundation has awarded 19 grants totaling over $235,000 through its "Powerful Communities" program in Indiana to support significant environmental initiatives. The funding will enhance water quality, conservation, and habitat restoration. Noteworthy recipients include the Indiana Natural Resources Foundation, receiving a $25,000 grant for the Indiana Tree Project, aiming to add 1,000 acres of forested land. The foundation contributes more than $30 million annually to community projects funded by Duke Energy shareholder dollars.
Duke Energy is set to release its third-quarter financial results on November 5, 2020, at 7 a.m. ET. The results can be found on the company's investor webpage. An earnings conference call for analysts will occur the same day from 10 to 11 a.m. ET, featuring Duke Energy's CEO Lynn Good and CFO Steve Young. The call is accessible through the investor section of their website or by phone. A replay will be available until November 15, 2020, and an audio transcript will also be posted online. Duke Energy serves over 7.8 million customers across six states.