8-K/ARegulation FDOther EventsExhibits & Filings

DTE ENERGY CO 8-K/A Report, Regulation FD Disclosure (Jun 4, 2021)

Filed June 4, 2021For Securities:DTEDTKDTBDTGDTW

Summary

This 8-K filing from DTE Energy Co. announces a significant corporate action: the effectiveness of its registration statement for the spin-off of its wholly-owned subsidiary, DT Midstream, Inc. The company has officially declared a pro rata dividend of DT Midstream common stock to its shareholders. This distribution is a key step towards separating the midstream business, allowing DTE Energy to focus on its core utility operations and DT Midstream to operate as an independent entity. Investors should note the specific dates for this distribution: shareholders of record as of June 18, 2021, will receive one share of DT Midstream for every two shares of DTE Energy held on the Distribution Date of July 1, 2021. Cash will be provided in lieu of fractional shares. This spin-off is designed to unlock shareholder value by creating two distinct, focused companies, each with its own strategic and financial flexibility.

Key Highlights

  • 1DTE Energy's registration statement for the spin-off of DT Midstream, Inc. has been declared effective by the SEC as of June 4, 2021.
  • 2The DTE Energy Board of Directors has declared a pro rata dividend of DT Midstream common stock to DTE Energy shareholders.
  • 3The distribution date for the spin-off is set for July 1, 2021, at 12:01 a.m. Eastern Time.
  • 4Shareholders of record as of June 18, 2021, will receive one share of DT Midstream common stock for every two shares of DTE Energy held.
  • 5DTE Energy shareholders will receive cash in lieu of any fractional shares of DT Midstream common stock.
  • 6The final information statement regarding the distribution, dated June 4, 2021, has been made publicly available.

Frequently Asked Questions

This filing announces that DTE Energy's plan to spin off its subsidiary, DT Midstream, Inc., has reached a key milestone. The SEC has declared the registration statement effective, and DTE Energy has officially declared the dividend of DT Midstream shares to its shareholders, detailing the distribution schedule.

Shareholders of DTE Energy who are of record as of 5:00 p.m. Eastern Time on June 18, 2021, will receive one share of DT Midstream common stock for every two shares of DTE Energy they own on that date. This distribution will occur on July 1, 2021.

For fractional shares, DTE Energy shareholders will receive cash in lieu of those fractional shares of DT Midstream common stock. You will not receive a partial share of DT Midstream.

The filing indicates that an 'Important Notice Regarding the Availability of Materials' will be mailed to shareholders. While not explicitly stated, this notice typically explains how the new shares will be credited to existing brokerage accounts or how physical certificates (if applicable) can be obtained. Investors should carefully review this notice when it is received.