PREFERRED STOCK

Dominion is authorized to issue up to 20 million shares of preferred stock; however, none were issued and outstanding at December 31, 2014 or 2013.

Virginia Power is authorized to issue up to 10 million shares of preferred stock, $100 liquidation preference, and had 2.59 million preferred shares issued and outstanding at December 31, 2013.

During 2014, Virginia Power redeemed all outstanding series of its preferred stock. Upon redemption, each series was no longer outstanding for any purpose and dividends ceased to accumulate. Presented below is a summary of the preferred stock redemptions:



Dividend	Total Shares	Redemption Price Per Share
	(thousands)
$5.00	107	$	112.50	⁽¹⁾
4.04	13	102.27		⁽¹⁾
4.20	15	102.50		⁽¹⁾
4.12	32	103.73		⁽¹⁾
4.80	73	101.00		⁽¹⁾
7.05	500	100.00		⁽¹⁾
6.98	600	100.00		⁽¹⁾
Flex Money Market Preferred 12/02, Series A	1,250	100.00		⁽²⁾
Total	2,590


(1)	As part of Dominion's Liability Management Exercise, in September 2014, Virginia Power provided irrevocable notice to redeem all shares outstanding for each series of preferred stock. In October 2014, the stock was redeemed at the applicable price per share plus accumulated and unpaid dividends.


(2)	In February 2014, Virginia Power provided irrevocable notice to redeem the stock. In March 2014, the stock was redeemed at the applicable price per share plus accumulated and unpaid dividends at a rate reset in March 2011 of 6.12%. Dividends ceased accumulating on the stock upon payment of the redemption price, thus the rate was not reset in March 2014.