Earnings Per Share (EPS) and Dividends

6 Months Ended

Jun. 30, 2025

Note 15. Earnings Per Share (EPS) and Dividends

EPS

Basic EPS is calculated by dividing Net Income by the weighted average number of shares of common stock outstanding. Diluted EPS is calculated by dividing Net Income by the weighted average number of shares of common stock outstanding, plus dilutive potential shares related to PSEG’s stock based compensation. The following table shows the effect of these dilutive potential shares on the weighted average number of shares outstanding used in calculating diluted EPS:



	Three Months Ended June 30,								Six Months Ended June 30,
	2025				2024				2025				2024
	Basic		Diluted		Basic		Diluted		Basic		Diluted		Basic		Diluted
EPS Numerator (Millions):
Net Income	$	585	$	585	$	434	$	434	$	1,174	$	1,174	$	966	$	966
EPS Denominator (Millions):
Weighted Average Common Shares Outstanding		499		499		498		498		499		499		498		498
Effect of Stock Based Compensation Awards		—		1		—		2		—		1		—		2
Total Shares		499		500		498		500		499		500		498		500
EPS
Net Income	$	1.17	$	1.17	$	0.87	$	0.87	$	2.35	$	2.35	$	1.94	$	1.93

Dividends



	Three Months Ended				Six Months Ended
	June 30,				June 30,
Dividend Payments on Common Stock	2025		2024		2025		2024
Per Share	$	0.63	$	0.60	$	1.26	$	1.20
In Millions	$	315	$	299	$	629	$	598

On July 21, 2025, PSEG’s Board of Directors approved a $0.63 per share common stock dividend for the third quarter of 2025.