EQUITY

3 Months Ended

Mar. 31, 2025

Equity [Abstract]

EQUITY

EQUITY

Dividends

Subject to the dividend restrictions as described in Note 6 of the Notes to the Consolidated Financial Statements in Item 8 of the 2024 Form 10-K, any decision to declare and pay dividends in the future will be made at the discretion of PG&E Corporation’s and the Utility’s Boards of Directors and will depend on, among other things, results of operations, financial condition, cash requirements, contractual restrictions and other factors that the Boards of Directors may deem relevant.

Utility

On November 29, 2024, the Board of Directors of the Utility declared dividends on its outstanding series of preferred stock totaling $3.5 million, which was paid on February 18, 2025, to holders of record as of January 31, 2025. On February 20, 2025, the Board of Directors of the Utility declared dividends on its outstanding series of preferred stock totaling $3.5 million, payable on May 15, 2025, to holders of record as of April 30, 2025.

On February 20, 2025, the Board of Directors of the Utility declared a common stock dividend of $575 million, which was paid to PG&E Corporation on March 18, 2025.

PG&E Corporation

On November 29, 2024 and February 20, 2025, the Board of Directors of PG&E Corporation declared a quarterly common stock dividend of $0.025 per share, each declaration totaling $55 million, which were paid on January 15 and April 15, 2025, to holders of record as of December 31, 2024 and March 31, 2025, respectively.

On December 12, 2024, the Board of Directors of PG&E Corporation declared a cash dividend in the amount of $0.7167 per mandatory convertible preferred share, totaling $23 million, which was paid on February 27, 2025, to holders of record as of February 14, 2025. On February 20, 2025, the Board of Directors of PG&E Corporation declared a cash dividend in the amount of $0.75 per mandatory convertible preferred share, totaling $24 million, payable on June 1, 2025, to holders of record as of May 15, 2025.