Dominion Energy, Inc. (NYSE:D), a $46.9 billion electric services company with a notable 4.85% dividend yield, announced the results of several key votes taken during its 2025 Annual Meeting held on Tuesday. The Richmond, Virginia-based utility, which has maintained dividend payments for 43 consecutive years, disclosed the shareholder voting outcomes in a recent SEC filing. According to InvestingPro analysis, the company currently maintains a Fair financial health rating, though it faces some challenges with cash flow management.
All 11 director nominees were elected to the Dominion Energy Board of Directors, each to serve until the next annual meeting. The directors secured their positions with a substantial majority of votes for, against, abstained, and broker non-votes recorded for each nominee.
Shareholders approved the executive compensation on an advisory basis, commonly referred to as "Say on Pay." The compensation package received 607,904,627 votes for, 27,023,370 against, and 2,961,865 abstained, with 93,308,846 broker non-votes.
Additionally, the appointment of Deloitte & Touche LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified with an overwhelming number of votes for the decision.
A shareholder proposal requesting the elimination of non-carbon emitting generation goals in executive pay incentives was not approved. The proposal received 9,488,225 votes for, 624,259,128 against, and 4,142,509 abstained, with 93,308,846 broker non-votes.
The filing also confirmed the continuation of Carlos M. Brown as President – Dominion Energy Services and Executive Vice President, Chief Legal Officer, and Corporate Secretary.
The information is based on a press release statement and aims to provide shareholders and the public with a clear understanding of the company’s governance outcomes.
In other recent news, Dominion Energy reported impressive first-quarter results for 2025, surpassing Wall Street expectations with earnings per share of $0.93, compared to the forecast of $0.77. The company also reported revenue of $4.08 billion, exceeding the anticipated $3.78 billion. In another development, Moody’s Ratings downgraded Virginia Electric and Power Company (VEPCO), a subsidiary of Dominion Energy, affecting over $21 billion of debt securities, while Dominion’s outlook was changed to negative from stable. This adjustment reflects the uncertain political and economic environments impacting the company’s financial metrics. Additionally, Dominion Energy announced the continuation of its long-standing dividend policy, declaring a quarterly dividend of 66.75 cents per share. This marks the 389th consecutive dividend payment to common stockholders. Despite the challenges, Dominion Energy is progressing on its Coastal Virginia Offshore Wind (CVOW) project, which is now 55% complete. The company maintains its 2025 operating earnings guidance between $3.28 and $3.52 per share, indicating confidence in its future performance.
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