trending Market Intelligence /marketintelligence/en/news-insights/trending/F-WMKKrPCgy_kHnAMIbn3Q2 content esgSubNav
Log in to other products


Looking for more?

Contact Us
In This List

Dominion completes sale of noncore assets, raises dividend


Global M&A Infographic Q1 2021


Q1 2021 Global Capital Markets Activity: SPAC IPOs, Issuance in Consumer Discretionary Sector Surge


COVID-19 Impact & Recovery: Private Equity


Utility sector progressing on gender diversity, but experts say more work needed

Dominion completes sale of noncore assets, raises dividend

Dominion Energy Inc. said Dec. 14 that it completed a series of transactions involving the sale of noncore assets.

The company closed the sale of its 50% interest in the Blue Racer Midstream LLC joint venture to private equity firm First Reserve Corp. for a total consideration of up to $1.5 billion.

Dominion Energy also divested the 1,240-MW Fairless combined-cycle power station in Bucks County, Pa., and the 468-MW Manchester Street combined-cycle power station in Providence County, R.I., to an affiliate of Starwood Energy Group Global LLC for about $1.23 billion, not including working capital.

The company sold its 25% interest in Catalyst Old River Hydro LP, which owns the 192-MW Sidney A. Murray Jr. hydroelectric generating station in Concordia County, La., to an undisclosed buyer for a cash consideration of about $90 million.

In a separate Dec. 14 news release, Dominion Energy also announced a 2019 dividend of $3.67 per share of common stock, representing a 10% increase from the 2018 dividend of $3.34 per share.

Subject to the declaration of the company's board of directors in January, the first-quarter 2019 dividend will be 91.75 cents per share, payable in March 2019.