RSS Feeds

Dominion Resources CEO Farrell made $8.2M in 2012

Wednesday - 3/27/2013, 12:20pm  ET

AP Business Writer

RICHMOND, Va. -- Dominion Resources Inc. CEO Thomas Farrell II received a pay package valued at $8.2 million in fiscal 2012, down more than 20 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 drop came from a more than 56 percent decrease in Farrell's performance-based bonus, which totaled $3.2 million.

His salary increased 7 percent to $1.3 million, and his stock awards were valued at $3.5 million.

Last year, Dominion's profit fell 79 percent to $302 million and revenue fell 7 percent to $1.31 billion. Its primary performance measurement -- operating earnings -- increased about 2 percent.

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

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.