#United States #dividend increase #Public Service Enterprise Group #PSEG #Newark, New Jersey

PSEG Increases Dividend for 2025

Public Service Enterprise Group (PSEG), a key player in the energy sector, has announced an increase in its quarterly common stock dividend for 2025. The company’s Board of Directors has declared a dividend of $0.63 per share, applicable for the first quarter of 2025. This marks a $0.03 increase from the previous quarter, setting the annual dividend rate at $2.52 per share.

PSEG has a long-standing history of providing dividend income to its shareholders, achieving 118 years of consistent payouts. This increase signifies the company's 14th consecutive annual rise in dividend payouts, reflecting PSEG's commitment to delivering stable and sustainable growth. Ralph LaRossa, the chair, president, and CEO of PSEG, emphasized the importance of this decision, stating, "The 5% increase represents our dedication to rewarding our investors, backed by a solid financial standing and a diverse business portfolio."

The dividend is scheduled for payment on or before March 31, 2025, to those shareholders who are on record by March 10, 2025. This timely announcement is crucial for potential and existing shareholders, illustrating PSEG's ongoing efforts to enhance shareholder value.

About PSEG

Public Service Enterprise Group is primarily regulated and operates New Jersey's largest transmission and distribution utility, catering to approximately 2.4 million electric and 1.9 million natural gas customers. PSEG also boasts a diverse fleet comprising 3,750 megawatts of carbon-free, baseload nuclear power generating units located in New Jersey and Pennsylvania. Their mission, encapsulated in their 'Powering Progress' vision, aims at providing cleaner, safer, and more reliable power while encouraging energy conservation among consumers.

Being a constituent of the S&P 500 Index, PSEG has been recognized for its commitment to sustainability, holding a place on the Dow Jones Sustainability North America Index for 17 consecutive years. Its operations extend beyond utilities, encompassing various subsidiaries including Public Service Electric and Gas Company (PSEG), and it aims to keep powering the future while maintaining environmental stewardship.

Future Considerations

The company advises that all future dividend decisions are subject to approval from its Board of Directors. Investors are encouraged to stay informed about these decisions, as any change could significantly affect their investment strategies. PSEG's management has a robust plan for maintaining the company's financial health, and this includes regular communication with shareholders about potential dividends.

In light of these developments, PSEG remains steadfast in its goal to empower energy users to become more efficient, reflecting its forward-looking approach in an evolving energy landscape. For more updates and investor information, shareholders and interested parties can visit PSEG's corporate website or their dedicated Investor Relations page.

Conclusion

With the current shift towards renewable resources and carbon neutrality, PSEG is poised to not only meet energy demands but also deliver value to its shareholders consistently. The enhanced dividend signifies both its ongoing growth trajectory and financial stability, making it a beneficial time for investors to consider their stakes in the company. Shareholders are advised to keep abreast of all announcements and updates as PSEG moves through 2025 and beyond.