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Equity
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Equity EQUITY
Common Stock

Issuances and Repurchases

Changes in the number of shares of common stock issued and outstanding for the years ended December 31, 2024, 2023, and 2022 are reflected in the table below.
Shares
Issued		Treasury
Shares		Shares Outstanding
Balance at December 31, 2021532,929,476 (69,031,742)463,897,734 
Shares issued (a)4,262,575 — 4,262,575 
Shares retired(12,979)— (12,979)
Shares repurchased (b)— (78,470,547)(78,470,547)
Balance at December 31, 2022537,179,072 (147,502,289)389,676,783 
Shares issued (a)6,474,491 — 6,474,491 
Shares retired(18,391)— (18,391)
Shares repurchased (b)— (44,994,499)(44,994,499)
Balance at December 31, 2023543,635,172 (192,496,788)351,138,384 
Shares issued (a)5,117,434 — 5,117,434 
Shares repurchased (b)— (16,560,328)(16,560,328)
Balance at December 31, 2024548,752,606 (209,057,116)339,695,490 
____________
(a)Shares issued include share awards granted to nonemployee directors.
(b)Shares repurchased include 58,817, 318,632, and 78,087 of unsettled shares as of December 31, 2024, 2023, and 2022, respectively.

Common Stock Dividends

Dividends are subject to declaration by the Board and may be subject to numerous factors at the time of declaration. These factors include, but are not limited to, prevailing market conditions, Vistra's results of operations, financial condition and liquidity, Delaware law, and any contractual limitations, such as the cumulative dividend requirements described in the certificates of designation of our outstanding preferred stock. Dividends per common share totaled $0.8735, $0.8205, and $0.7240 in the years ended December 31, 2024, 2023, and 2022, respectively.

In February 2025, the Board declared a quarterly dividend of $0.2235 per share of common stock that will be paid in March 2025.
Share Repurchase Program

In October 2021, the Board authorized a share repurchase program (Share Repurchase Program). Under this program, shares of the Company's common stock may be repurchased in open market transactions, privately negotiated transactions, or other means in accordance with federal securities laws. The timing, number, and value of shares repurchased will be determined at our discretion, considering factors such as capital allocation priorities, stock market price, general market and economic conditions, legal requirements, and compliance with debt agreements and preferred stock certificates of designation.

Amount Authorized for Share Repurchases
(in billions)
Board Authorization Dates:
October 2021
$2.00 
August 2022
1.25 
March 2023
1.00 
February 2024
1.50 
October 2024
1.00 
Cumulative authorization at December 31, 2024
$6.75 

The following table provides information about our repurchases of common stock for the period between January 1, 2022 and February 24, 2025.
$6.750 Billion Board Authorization
Total Number of Shares RepurchasedAverage Price Paid
Per Share		Amount Paid for Shares RepurchasedAmount Available for Additional Repurchases at the End of the Period
(in millions, except share amounts and price paid per share)
Year Ended December 31, 202278,470,547$23.40 $1,836 
Year Ended December 31, 202344,994,49927.89 1,255 
Year Ended December 31, 202416,560,32874.96 1,241 
January 1, 2022 through December 31, 2024 (a)140,025,374$30.94 $4,332 $2,009 
January 1, 2025 through February 24, 2025848,866163.23 139 
January 1, 2022 through February 24, 2025140,874,240$31.74 $4,471 $1,870 
____________
(a)Shares repurchased include 58,817 of unsettled shares for $8 million as of December 31, 2024.

Preferred Stock

The following is a summary of our cumulative redeemable preferred stock outstanding. In the event of liquidation or dissolution of the Company, the payment of dividends and the distribution of assets to preferred stockholders takes precedence over the Company's common stockholders.
Preferred Stock Series
Issuance
Date
Shares Issued and Outstanding (a)
Contractual
Rates
Earliest Redemption Date (b)
Date at Which Dividend Rate Becomes Floating
Floating Annual Rates
Series A
October 15,
2021
1,000,000 8.000 %
October 15,
2026
October 15,
2026
5-Year U.S. Treasury rate (subject to floor of 1.07%) plus 6.93%
Series B
December 10,
2021
1,000,000 7.000 %
December 15,
2026
December 15,
2026
5-Year U.S. Treasury rate (subject to floor of 1.26%) plus 5.74%
Series C
December 29,
2023
476,066 8.875 %
January 15,
2029
January 15,
2029
5-Year U.S. Treasury rate (subject to floor of 3.83%) plus 5.045%
____________
(a)Series C Preferred Stock issued totaled 476,081 shares at December 31, 2023.
(b)Subject to our right, in limited circumstances, to redeem preferred stock prior to the earliest redemption date.
Each series of preferred stock has a liquidation price of $1,000, plus accrued and unpaid dividends through their redemption date. Preferred stock is not convertible into or exchangeable for any other securities of the Company and has limited voting rights.

Preferred Stock Dividends

Preferred stock dividends are payable semiannually in arrears when declared by the Board. The following table summarizes preferred stock dividends paid per share in the years ended December 31, 2024, 2023, and 2022.
Year Ended December 31,
Preferred Stock Series
202420232022
Series A Preferred Stock
$80.00 $80.00 $80.00 
Series B Preferred Stock
$70.00 $70.00 $70.97 
Series C Preferred Stock
$48.32 

In October 2024, the Board declared a semi-annual dividend of $44.375 per share of Series C Preferred Stock that was paid in January 2025. In February 2025, the Board declared a semi-annual dividend of $40.00 per share of Series A Preferred Stock that will be paid in April 2025.