Dominion Resources (NYSE:D) is maintaining its dividend, despite some recent concern about pricing. The company will distribute $0.5625 per share of its common stock on June 20 to shareholders of record as of June 7. This matches the amount of the company's previous quarterly handout, which was dispensed in March. Before that, it paid $0.5275 per share.
The dividend declaration comes on the heels of Dominion's application for a fuel rate increase. The company says that if approved by the Virginia State Corporation Commission, this would result in an additional cost of $2.36 for the average customer currently paying $108.39 for a monthly, 1,000-kilowatt-hour bill.
The current dividend annualizes to $2.25 per share. That yields 3.7% at Dominion's current stock price of $60.91.
Fool contributor Eric Volkman has no position in Dominion Resources. The Motley Fool recommends Dominion Resources. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.