Changes in Capital Structure

3 Months Ended

Mar. 31, 2018

As of March 31, 2018 and December 31, 2017, the Company had 500,000,000 shares of common stock authorized. The following table reflects the changes in NRG's common stock issued and outstanding:



	Issued	Treasury		Outstanding
Balance as of December 31, 2017	418,323,134	(101,580,045	)	316,743,089
Shares issued under LTIPs	1,081,994	—		1,081,994
Shares issued under ESPP	—	175,862		175,862
Shares repurchased	—	(3,114,748	)	(3,114,748	)
Balance as of March 31, 2018	419,405,128	(104,518,931	)	314,886,197

Employee Stock Purchase Plan

In January 2018, 175,862 shares of common stock were issued to employee accounts from treasury stock for the offering period of July 1, 2017 to December 31, 2017. In January 2018, NRG suspended the ESPP.

Share Repurchases

In February 2018, the Company's board of directors authorized the Company to repurchase $1 billion of its common stock, with the first $500 million program beginning as soon as permitted. In March 2018, share repurchases were made as follows:



	Total number of shares purchased	Average price paid per share ^(a)		Amounts paid for shares purchased (in millions) ^(a)
Board Authorized Share Repurchases
March 2018	3,114,748	$	29.75	$	93

(a) The average price paid per share and amounts paid for shares purchased exclude the commissions of $0.01 per share paid in connection with the share repurchase.

NRG Common Stock Dividends

The following table lists the dividends paid during the three months ended March 31, 2018:



	First Quarter 2018
Dividends per Common Share	$	0.03

On April 19, 2018, NRG declared a quarterly dividend on the Company's common stock of $0.03 per share, payable May 15, 2018, to stockholders of record as of May 1, 2018, representing $0.12 per share on an annualized basis.

The Company's common stock dividends are subject to available capital, market conditions, and compliance with associated laws, regulations and other contractual obligations.