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DOMINION ENERGY, INC.

(D)
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Dominion Energy Issues Inaugural DE&I Report, Sharpens Focus on Diversity, Equity, and Inclusion

11/22/2021 | 07:42am EST

RICHMOND - Diversity, equity, and inclusion (DE&I) are all improving at Dominion Energy (NYSE: D), according to the company's first external report on the subject.

'Power Through People' details the company's DE&I journey and highlights company workforce data from 2016 through 2020. It also lays out clear and specific commitments for further progress.

'We've come a long way on diversity, equity, and inclusion,' said Dominion Energy Chair, President, and Chief Executive Officer Robert M. Blue. 'And we have more work to do. Our vision is to become the most sustainable energy company in the country, and we are in this for the long haul.'

According to the report

From 2016 through 2020, diverse representation increased companywide, at the leadership level, and at the executive level (the CEO's direct reports are 71% diverse, for example).

During the same period, diverse hiring grew 13.4 percentage points, from 36.2% to 49.6%, and diverse workforce representation grew 2.7 percentage points, from 31.9% to 34.6%.

Dominion Energy is committed to increasing diverse workforce representation 1 percentage point each year, from a baseline of 33.2 % (at the end of 2019), with a goal of reaching at least 40% by year-end 2026.

The company reached the 1 percentage-point target in 2020.

Over the past five years, the company has averaged 10.4% growth per year in spending with diverse suppliers.

The report, which includes workforce representation data as well as the latest EEO-1 data, also discusses Dominion Energy's programs to recruit, hire, train, and support individuals from all backgrounds, and its support of diverse communities - whether those communities are defined by geography, economics, race/ethnicity, gender, or some other characteristic.

In 2020, the company: Launched and contributed $2 million toward a two-year, $5 million Social Justice and Community Rebuilding Grants Initiative to help address the fundamental causes of systemic racism.

Contributed an additional $2.2 million from the Dominion Energy Charitable Foundation to organizations that directly support DE&I.

Announced a six-year, $25 million commitment to support Historically Black Colleges and Universities and $10 million to provide scholarships to students from underrepresented communities.

'Publishing this report is one way we hold ourselves accountable,' said Carter Reid, executive vice president, chief of staff and president-Dominion Energy Services. 'We want Dominion Energy to be a place where all people feel welcome and are treated with dignity, fairness, and respect. We are embedding a culture of DE&I throughout the company, setting goals to help us continue to grow, and measuring our performance as we go.'

About Dominion Energy

More than 7 million customers in 16 states energize their homes and businesses with electricity or natural gas from Dominion Energy (NYSE: D), headquartered in Richmond, Va. The company is committed to sustainable, reliable, affordable, and safe energy and to achieving net zero carbon dioxide and methane emissions from its power generation and gas infrastructure operations by 2050.

Contact:

Ryan Frazier

Tel: (804) 836-2083

Email: C.Ryan.Frazier@dominionenergy.com

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 14 718 M - -
Net income 2021 2 932 M - -
Net Debt 2021 40 474 M - -
P/E ratio 2021 20,6x
Yield 2021 3,20%
Capitalization 64 056 M 64 056 M -
EV / Sales 2021 7,10x
EV / Sales 2022 6,72x
Nbr of Employees 17 300
Free-Float -
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Last Close Price 79,09 $
Average target price 85,69 $
Spread / Average Target 8,34%
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Managers and Directors
Robert M. Blue Chairman, President & Chief Executive Officer
James R. Chapman CFO, Treasurer & Senior Vice President
Diane Leopold Chief Operating Officer & Executive VP
Carlos M. Brown Chief Compliance Officer, SVP & General Counsel
Michael D. Frederick Senior Vice PresidentľAdministrative Services
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