Comment
6
Tweet
2
Print
RSS Feeds

Dominion Resources CEO Farrell made $10.9M in 2013

Thursday - 3/27/2014, 12:18pm  ET

MICHAEL FELBERBAUM
AP Business Writer

RICHMOND, Va. (AP) -- Dominion Resources Inc. CEO Thomas Farrell II received a pay package valued at $10.9 million in fiscal 2013, up 33 percent from the previous year.

That's according to an Associated Press analysis of data filed by the Richmond-based energy provider with regulators.

The bulk of the jump came from a 60 percent increase in Farrell's performance-based bonus, which totaled $5.15 million.

His salary increased 4 percent to about $1.35 million, his stock awards were valued at $4.2 million and he received about $210,000 in other compensation.

Last year, Dominion's operating earnings -- its primary performance measurement -- increased 7.5 percent to $1.88 billion. Revenue increased about 2 percent to $13.1 billion.

The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.