D - This Dividend Stock Is Changing But It Still Won't Tell Investors How
2023-06-02 05:52:00 ET
Dominion Energy (NYSE: D) is one of the largest regulated utilities in the United States. It offers a generous dividend yield of 5.3%, well above the industry average of 3.1%, using the Vanguard Utilities Index ETF as a proxy. There are a number of reasons for the yield difference, but right now the most important is the uncertainty tied to Dominion's decision to do a strategic business review. Some history will help here.
At one point in Dominion Energy's history, its business was a lot more diversified, spanning from oil fields to electricity generation. The company decided that it wanted to simplify and, notably, become a more predictable business. So, it exited more volatile operations.
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This Dividend Stock Is Changing, But It Still Won't Tell Investors How