Public Service : 2025 Dividend Fact Sheet
PEG
Public Service Enterprise Group
Our 118th Year Paying a Common Dividend
PSEG is continuing its remarkable record of paying common dividends. PSEG has paid dividends each year since 1907 - a record matched by very few companies. In addition to investing in long-term growth opportunities, returning cash to our shareholders remains a top priority and underscores our commitment to a disciplined approach to capital allocation.
In early 2025, the Board of Directors of PSEG declared a quarterly dividend of $0.63 cents per share. The indicative annual common dividend for 2025 is $2.52 per share, representing an increase of 5% over the 2024 annual common dividend, and results in a compound annual rate of growth in the dividend of ~5.0% over the past 10 years.
"The 5% increase in the 2025 indicative annual dividend rate represents our 14th consecutive annual increase, successfully extending PSEG's track record of delivering consistent and sustainable growth in the common dividend," said Ralph LaRossa, chair, president and chief executive officer of PSEG. "Our long history of providing dividend income for 118 years is supported by our solid financial position, strong business mix and predictable growth."
All future dividend payments, and any changes thereto, are subject to approval by the Board of Directors.
PSEG Annual Dividend per Share
E=Estimate
* Payout Ratios reflect the dividend rate divided by non-GAAP Operating Earnings. See page 2 of this document for Items excluded from Net Income (Loss) to reconcile to Operating Earnings (non-GAAP) for PSEG.
** Indicative annual 2025 common dividend rate per share.
Public Service Enterprise Group (PSEG)
This document contains forward-looking information. Actual results may differ from those anticipated. Information
80 Park Plaza, Newark, NJ 07102
describing the significant factors that could cause results to differ from those anticipated are described in Public
Investor Relations: PSEG-IR-
Service Enterprise Group's filings with the SEC, which are available on our websitehttps://investor.pseg.com.
Information provided is as of February 25, 2025. Any forward-looking statements included herein represent our
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estimates as of this date and we disclaim any obligation to update the information provided.
GAAP Disclaimer
PSEG presents Operating Earnings in addition to its Net Income (Loss) reported in accordance with accounting principles generally accepted in the United States (GAAP). Operating Earnings is a non-GAAP financial measure that differs from Net Income (Loss). Non-GAAP Operating Earnings exclude the impact of gains (losses) associated with the Nuclear Decommissioning Trust (NDT), Mark-to-Market (MTM) accounting and other material infrequent items.
Management uses non-GAAP Operating Earnings in its internal analysis, and in communications with investors and analysts, as a consistent measure for comparing PSEG's financial performance to previous financial results. The presentation of non-GAAP Operating Earnings is intended to complement, and should not be considered an alternative to, the presentation of Net Income (Loss), which is an indicator of financial performance determined in accordance with GAAP. In addition, non-GAAP Operating Earnings as presented in this release may not be comparable to similarly titled measures used by other companies. Due to the forward-looking nature of non-GAAP Operating Earnings guidance, PSEG is unable to reconcile this non-GAAP financial measure to the most directly comparable GAAP financial measure because comparable GAAP measures are not reasonably accessible or reliable due to the inherent difficulty in forecasting and quantifying measures that would be required for such reconciliation. Namely, we are not able to reliably project without unreasonable effort MTM and NDT gains (losses), for future periods due to market volatility. These items are uncertain, depend on various factors, and may have a material impact on our future GAAP results.
From time to time, PSEG and PSE&G release important information via postings on their corporate Investor Relations website athttps://investor.pseg.com. Investors and other interested parties are encouraged to visit the Investor Relations website to review new postings. You can sign up for automatic email alerts regarding new postings at the bottom of the webpage athttps://investor.pseg.com or navigating to the Email Alerts webpagehere. The information onhttps://investor.pseg.com andhttps://investor.pseg.com/resources/email-alerts/default.aspx is not incorporated herein and is not part of this communication.
Items Excluded from Net Income (Loss) to Reconcile to non-GAAP Operating Earnings
Public Service Enterprise Group Incorporated
Consolidated Operating Earnings (non-GAAP) Reconciliation
(a) Effective January 1, 2018, unrealized gains (losses) on equity securities are recorded in Net Income (Loss) instead of Other Comprehensive Income (Loss).
(b) Includes the financial impact from positions with forward delivery months.
(c) 2022 includes the results for fossil generation sold in February 2022. 2021 amounts include a pre-tax loss of $298 million for the make-whole premium paid upon the early redemption of PSEG Power's debt and other non-cash debt extinguishment costs.
(d) Income tax effect calculated at 28.11% statutory rate for 2018 through 2024 and 40.85% statutory rate for prior years, except for qualified NDT related activity, which records an additional 20% trust tax on income (loss) from qualified NDT Funds, the additional investment tax credit recapture related to the sale of PSEG Solar Source in 2021 and lease related activity.
(e) Approximately three million potentially dilutive shares were excluded from fully diluted average shares outstanding used to calculate the diluted GAAP loss per share for the year ended December 31, 2021 as their impact was antidilutive to GAAP results. For non-GAAP per share calculations, we used fully diluted average shares outstanding of 507 million, including the three million potentially dilutive shares as they were dilutive to non-GAAP results. As a result of the use of different denominators for non-GAAP Operating Earnings and GAAP Net Loss, a reconciling line item, "Share Differential," has been added to the 2021 results to reconcile the two Earnings (Loss) per share calculations.
Disclaimer
PSEG - Public Service Enterprise Group Inc. published this content on March 25, 2025, and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on March 25, 2025 at 01:34:06.108.