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Public Service Enterprise Group Ups Dividend

The 1-cent increase results in a new 57-cent dividend.

Newark-based diversified energy company

Public Service Enterprise Group

(PEG) - Get Public Service Enterprise Group Inc Report

raised its quarterly dividend by 1 cent to 57 cents.

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The new dividend will be paid to holders of record on March 8, 2006, if the expected merger with Exelon does not close before March 8. If the merger closes before this date, a pro-rated, or "stub" dividend will be paid within 30 days of the merger close, to holders of record on the day before the closing.

A second stub payment will be declared by the newly formed company, Exelon Electric & Gas, for the time period from the close of the merger to the first record date.

This story was created through a joint venture between TheStreet.com and IRIS.