Earnings Per Share (EPS) and Dividends
 3 Months Ended
Mar. 31, 2018
Earnings Per Share [Abstract]  
Earnings Per Share (EPS) and Dividends
Earnings Per Share (EPS) and Dividends
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 performance units or restricted stock units. The following table shows the effect of these stock options, performance units and restricted stock units on the weighted average number of shares outstanding used in calculating diluted EPS:
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended March 31,
 
 
 
2018
 
2017
 
 
 
Basic
 
Diluted
 
Basic
 
Diluted
 
 
EPS Numerator (Millions):
 
 
 
 
 
 
 
 
 
Net Income
$
558

 
$
558

 
$
114

 
$
114

 
 
EPS Denominator (Millions):
 
 
 
 
 
 
 
 
 
Weighted Average Common Shares Outstanding
504

 
504

 
505

 
505

 
 
Effect of Stock Based Compensation Awards
—

 
3

 
—

 
3

 
 
Total Shares
504

 
507

 
505

 
508

 
 
 
 
 
 
 
 
 
 
 
 
EPS
 
 
 
 
 
 
 
 
 
Net Income
$
1.11

 
$
1.10

 
$
0.23

 
$
0.22

 
 
 
 
 
 
 
 
 
 
 
For the three months ended March 31, 2017, there were approximately 0.3 million stock options excluded from the weighted average common shares used for diluted EPS due to their antidilutive effect.
Dividends
 
 
 
 
 
 
 
 
Three Months Ended
 
 
 
March 31,
 
 
Dividend Payments on Common Stock
2018
 
2017
 
 
Per Share
$
0.45

 
$
0.43

 
 
In Millions
$
227

 
$
218

 
 
 
 
 
 
 

On April 17, 2018, PSEG’s Board of Directors approved a $0.45 per share common stock dividend for the second quarter of 2018.