A lawsuit against South Carolina Electric & Gas and its parent holding company SCANA is asking a state judge to order a hold that would prevent its next dividend payment to investors.
The State newspaper reports the next quarterly payout would happen Jan. 1. SCANA’s quarterly dividend is just over 61 cents per share.
If a judge halts a payout, it would mean investors who own SCANA stock would not get their dividend.
The woman who filed the lawsuit, Edwinda Goodwin, claims any quarterly dividend should go into a trust account until several lawsuits are resolved following the failure of the VC Summer plant nuclear reactor expansion.
SCANA and its construction partner state-owned utility Santee Cooper decided to abandon the project in July after it fell years behind schedule and billions over budget. The decision was prompted by the bankruptcy of the project’s lead contractor Westinghouse.