Dominion Energy issues $1 billion in senior notes

RICHMOND, VA - Dominion Energy, Inc. (NYSE:D) has entered into an underwriting agreement for the sale of $1 billion in senior notes, the company disclosed in a regulatory filing today. This adds to the company’s existing debt burden of $44.6 billion, as reported by InvestingPro. The agreement, dated May 6, 2025, was made with BofA Securities, Inc., J.P. Morgan Securities LLC, and Wells Fargo (NYSE:WFC) Securities, LLC, acting as representatives of the underwriters.

The offering involves the sale of the company’s 2025 Series C 4.60% Senior Notes due 2028. These notes are part of Senior Debt Securities previously registered under Rule 415, following a registration statement on Form S-3 that became effective on February 21, 2023.

The proceeds from the sale of the Series C Senior Notes will be governed by the Thirtieth Supplemental Indenture to Dominion Energy’s June 1, 2015 Senior Indenture. The Series C Senior Notes will be issued pursuant to this indenture.

Dominion Energy, headquartered in Richmond, Virginia, is an energy company involved in providing electricity and natural gas to customers in multiple states. With a market capitalization of $46.2 billion and a notable dividend yield of 4.87%, the company has maintained dividend payments for 43 consecutive years. The company’s common stock is traded on the New York Stock Exchange under the ticker symbol D.

This transaction is part of Dominion Energy’s broader financial strategy, which includes managing its debt portfolio and funding its capital programs. The details of the underwriting agreement and the supplemental indenture are included in the exhibits filed with the Form 8-K.

The information reported in this article is based on Dominion Energy’s recent SEC filing.

In other recent news, Dominion Energy reported impressive financial results for the first quarter of 2025, surpassing Wall Street forecasts with earnings per share of $0.93, compared to the anticipated $0.77, and revenue of $4.08 billion, exceeding the expected $3.78 billion. The company reaffirmed its 2025 operating earnings guidance, projecting EPS between $3.28 and $3.52. Additionally, Dominion Energy announced the continuation of its long-standing dividend policy, declaring a quarterly dividend of 66.75 cents per share, marking the 389th consecutive dividend issued to common stockholders. In governance-related updates, all 11 director nominees were re-elected to the Board of Directors during the company’s 2025 Annual Meeting. Meanwhile, Moody’s Ratings downgraded Virginia Electric and Power Company (VEPCO), a subsidiary of Dominion, affecting over $21 billion of debt securities, and revised Dominion Energy’s outlook to negative from stable. This reflects challenges in the political and economic environment impacting the company’s cash flows and financial metrics. Despite these challenges, Dominion Energy continues its progress on the Coastal Virginia Offshore Wind project, which is now 55% complete.

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