Earnings Per Share (EPS) and Dividends

3 Months Ended

Mar. 31, 2021

EPS

Diluted EPS is calculated by dividing Net Income by the weighted average number of shares of common stock outstanding, including shares issuable upon exercise of stock options outstanding or vesting of restricted stock awards granted under PSEG’s stock compensation plans and upon payment of performance share units or restricted stock units. The following table shows the effect of these stock options, performance share units and restricted stock units on the weighted average number of shares outstanding used in calculating diluted EPS:



	Three Months Ended March 31,
		2021	2020
			Basic		Diluted		Basic		Diluted
EPS Numerator (Millions):
Net Income			$	648	$	648	$	448	$	448
EPS Denominator (Millions):
Weighted Average Common Shares Outstanding			504		504		504		504
Effect of Stock Based Compensation Awards			—		3		—		3
Total Shares			504		507		504		507

EPS
Net Income			$	1.29	$	1.28	$	0.89	$	0.88

Dividends



	Three Months Ended
	March 31,
Dividend Payments on Common Stock		2021		2020
Per Share		$	0.51	$	0.49
In Millions		$	258	$	248

On April 20, 2021, the PSEG Board of Directors approved a $0.51 per share common stock dividend for the second quarter of 2021.