Dominion Power 2005 Annual Report Download - page 12

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10 Dominion 2005
Electric
Natural Gas
Corporate Headquarters
Richmond, Virginia
Regulated tilities er ice reas
so ecember 1
Share Price Closes 2005 Nearly 14 Percent Higher
The hurricanes took a financial toll on many businesses in
2005, including Dominion. However, investors demonstrat-
ed their confidence in the long-term prospects of our
integrated businesses. Our share price held up. In fact, we
hit more than two dozen all-time highs last year.
Thanks in part to our employees and to broad strength in
the energy sector, our share price closed up 14 percent
in 2005 at $77.20 compared to $67.74 at year-end 2004.
Including our annual dividend, we delivered a total return
of more than 18 percent in 2005, topping a total return of
more than 17 percent by the Standard & Poor’s 500
Electric Utilities Index and a total return of more than 16
percent by the S&P 500 Utilities Index. Beyond our sector,
the S&P 500 delivered a total return of just under 5 percent
in 2005, and the Dow Jones Industrial Average returned
less than 2 percent.
Taking a longer view, our total five-year return to
shareholders from Dec. 31, 2000, to Dec. 31, 2005, has
topped 40 percent. That compares favorably to a
30-percent total return by the S&P 500 Electric Utilities
Index and a negative total return of nearly 11 percent by
the S&P 500 Utilities. During the same five-year period, the
broader S&P 500 delivered a total return of less than
3 percent, while the Dow Jones Industrial Average returned
more than 10 percent.
Hurricane Damage, Virginia Fuel Expense
Lower 2005 Earnings
In 2005, we earned $3.00 per share under Generally
Accepted Accounting Principles (GAAP), down from $3.78
per share a year earlier. Both Gulf hurricanes were major
factors behind the shortfall. Unrecoverable fuel expenses at
our Dominion Virginia Power unit were another factor.
Operating earnings in 2005 were $4.53 per share, down