Earnings Per Share (EPS) and Dividends

6 Months Ended

Jun. 30, 2016

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 units or restricted stock units. The following table shows the effect of these stock options, performance units and restricted stock units on the weighted average number of shares outstanding used in calculating diluted EPS:




	Three Months Ended June 30,								Six Months Ended June 30,
	2016				2015				2016				2015
	Basic		Diluted		Basic		Diluted		Basic		Diluted		Basic		Diluted
EPS Numerator (Millions):
Net Income	$	187	$	187	$	345	$	345	$	658	$	658	$	931	$	931
EPS Denominator (Millions):
Weighted Average Common Shares Outstanding	505		505		506		506		505		505		506		506
Effect of Stock Based Compensation Awards	—		3		—		2		—		3		—		2
Total Shares	505		508		506		508		505		508		506		508

EPS
Net Income	$	0.37	$	0.37	$	0.68	$	0.68	$	1.30	$	1.30	$	1.84	$	1.83

There were approximately 0.3 million and 0.4 million stock options excluded from the weighted average common shares used for diluted EPS due to their antidilutive effect for the three months and six months ended June 30, 2016 and 2015, respectively.




	Three Months Ended				Six Months Ended
	June 30,				June 30,
Dividend Payments on Common Stock	2016		2015		2016		2015
Per Share	$	0.41	$	0.39	$	0.82	$	0.78
In Millions	$	208	$	197	$	415	$	394

On July 19, 2016, PSEG's Board of Directors approved a $0.41 per share common stock dividend for the third quarter of 2016.