• 
• See all for Dividend.com
• View Print Version

• Best Dividend Stocks
• High-Yield Dividend Stocks
• Ex-Dividend Calendar

• DUK 83% Rate It

Electric and natural gas utility operator Duke Energy Corporation ( DUK ) on Tuesday announced the completion of its merger with fellow utility play Progress Energy.

New Chief Executive
The closing of the deal, which was originally announced back in January, carries a few notable items. The new company will continue to be known as Duke Energy, and the combined company announced a new CEO, Jim Rogers. Former CEO Bill Johnson has stepped down as per a mutual agreement.

Progress Stock Conversion, 1:3 Split
In pursuant to the merger, shareholders of Progress Energy now have the right to receive 0.87083 shares of Duke Energy common stock. The company also completed a 1-for-3 stock split, which is designed to reduce the total number of shares outstanding.

Guidance Adjusted
As a result of the split, DUK adjusted its full-year earnings guidance accordingly. The company's previously-announced full-year outlook of $1.40 to $1.45 per share has been converted to $4.20 to $4.35 per share.

Duke Energy shares were unchanged in premarket trading Tuesday.

The Bottom Line
Duke Energy currently offers a 4.38% dividend yield, based on last night's split-adjusted closing price of $69.84 and the company's annualized split-adjusted dividend payout of $3.06 per share.

Duke Energy Corporation ( DUK ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

Related Stocks Articles

• 
  Cisco ASR 5000 Series for T-Mobile - Analyst Blog
  5/20/2013 06:03 PM
• 
  Analog Devices Preview: Will It Miss? - Analyst Blog
  5/20/2013 06:02 PM
• 
  Stocks Hug the Flatline on Comments From Two Fed Presidents
  5/20/2013 05:30 PM