Earnings Per Share (EPS) and Dividends

6 Months Ended

Jun. 30, 2020

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 June 30,								Six Months Ended June 30,
	2020				2019				2020				2019
	Basic		Diluted		Basic		Diluted		Basic		Diluted		Basic		Diluted
EPS Numerator (Millions):
Net Income	$	451	$	451	$	153	$	153	$	899	$	899	$	853	$	853
EPS Denominator (Millions):
Weighted Average Common Shares Outstanding	504		504		504		504		504		504		504		504
Effect of Stock Based Compensation Awards	—		3		—		3		—		3		—		3
Total Shares	504		507		504		507		504		507		504		507

EPS
Net Income	$	0.89	$	0.89	$	0.30	$	0.30	$	1.78	$	1.77	$	1.69	$	1.68

Dividends




	Three Months Ended				Six Months Ended
	June 30,				June 30,
Dividend Payments on Common Stock	2020		2019		2020		2019
Per Share	$	0.49	$	0.47	$	0.98	$	0.94
In Millions	$	247	$	237	$	495	$	475

On July 21, 2020, the PSEG Board approved a $0.49 per share common stock dividend for the third quarter of 2020.