Earnings Per Share (EPS) and Dividends

6 Months Ended

Jun. 30, 2023

EPS

Basic EPS is calculated by dividing Net Income by the weighted average number of shares of common stock outstanding. Diluted EPS is calculated by dividing Net Income by the weighted average number of shares of common stock outstanding, plus dilutive potential shares related to PSEG’s stock based compensation. The following table shows the effect of these dilutive potential shares on the weighted average number of shares outstanding used in calculating diluted EPS:



	Three Months Ended June 30,								Six Months Ended June 30,
	2023				2022				2023				2022
	Basic		Diluted		Basic		Diluted		Basic		Diluted		Basic		Diluted
EPS Numerator (Millions):
Net Income	$	591	$	591	$	131	$	131	$	1,878	$	1,878	$	129	$	129
EPS Denominator (Millions):
Weighted Average Common Shares Outstanding	497		497		497		497		497		497		499		499
Effect of Stock Based Compensation Awards	—		3		—		3		—		3		—		3
Total Shares	497		500		497		500		497		500		499		502

EPS
Net Income	$	1.19	$	1.18	$	0.26	$	0.26	$	3.78	$	3.76	$	0.26	$	0.26

Dividends



	Three Months Ended				Six Months Ended
	June 30,				June 30,
Dividend Payments on Common Stock	2023		2022		2023		2022
Per Share	$	0.57	$	0.54	$	1.14	$	1.08
In Millions	$	285	$	270	$	569	$	541

On July 17, 2023, PSEG’s Board of Directors approved a $0.57 per share common stock dividend for the third quarter of 2023.