Earnings Per Share (EPS) and Dividends

12 Months Ended

Dec. 31, 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 PSUs or RSUs. For additional information on PSEG’s stock compensation plans see Note 20. Stock Based Compensation. The following table shows the effect of these stock options, PSUs and RSUs on the weighted average number of shares outstanding used in calculating diluted EPS:



	Years Ended December 31,
	2020				2019				2018
	Basic		Diluted		Basic		Diluted		Basic		Diluted
EPS Numerator:
(Millions)
Net Income	$	1,905	$	1,905	$	1,693	$	1,693	$	1,438	$	1,438
EPS Denominator:
(Millions)
Weighted Average Common Shares Outstanding	504		504		504		504		504		504
Effect of Stock Based Compensation Awards	—		3		—		3		—		3
Total Shares	504		507		504		507		504		507
EPS:
Net Income	$	3.78	$	3.76	$	3.35	$	3.33	$	2.85	$	2.83

For additional information on all the types of long-term incentive awards, see Note 20. Stock Based Compensation.

Dividends



	Years Ended December 31,
Dividend Payments on Common Stock	2020		2019		2018
Per Share	$	1.96	$	1.88	$	1.80
in Millions	$	991	$	950	$	910

On February 16, 2021, PSEG’s Board of Directors approved a $0.51 per share common stock dividend for the first quarter of 2021.