This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

PSEG Declares 3.6% Increase In Quarterly Dividend













NEWARK, N.J., Feb. 21, 2012 /PRNewswire/ -- The board of directors of Public Service Enterprise Group (NYSE: PEG) declared a 3.6% increase in the company's common stock dividend today.  PSEG has paid annual dividends on an uninterrupted basis since 1907.

The board increased the quarterly dividend to 35.5 cents per share, a 3.6% increase over the company's existing quarterly dividend rate of 34.25 cents per share.  The first dividend in 2012 is payable on March 31, 2012, to shareholders of record on March 9, 2012.

The board's action increases the indicated annual common stock dividend rate to $1.42 per share from $1.37 per share.  The board's action also represents a revision of the company's dividend payout policy from its prior stated goal of paying out 40% - 50% of earnings as dividends to a policy that pays out a greater percentage of earnings as dividends with an expectation for future dividend growth. 

Ralph Izzo, chairman, president and chief executive officer, said, "We are pleased to be able to increase the cash return to our shareholders. The dividend increase represents a re-set of our annual dividend rate. Our balance sheet has been strengthened, and our cash flow remains strong.  In addition, the contribution to earnings from our more stable, regulated business has grown as a percent of earnings, and is expected to continue to grow.  We made progress on our operational, capital investment and financial goals in 2011 which along with continued cash flow in our generation business should provide the support for future growth in the dividend. Growth would be in line with expectations for improvement in our regulated cash flow."  All future changes in the common stock dividend are subject to board approval.



1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs