PG&E Corporation - PCG STOCK NEWS

PG&E (NYSE: PCG) has announced its upcoming fourth quarter and full year 2024 earnings conference call, scheduled for Thursday, February 13, 2025, at 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time). The call will be accessible to the public through a simultaneous webcast available on the company's investor relations website.

PG&E is an Oakland-based holding company and parent of Pacific Gas and Electric Company, serving 16 million Californians across a 70,000-square-mile service area in Northern and Central California. A replay of the conference call and webcast will be made available on the company's investor website.

PG&E (NYSE: PCG) has announced the appointment of Leo P. Denault to the Boards of Directors of PG&E and Pacific Gas and Electric Company, effective February 19, 2025. Denault, who served as Chairman and CEO of Entergy from 2013 to 2022, brings significant utility sector experience, having transformed Entergy into a premier utility with one of the nation's cleanest energy portfolios.

During his tenure at Entergy, Denault focused on system reliability, resilience, and financial stability while streamlining operations and controlling costs. He previously served as Entergy's Executive Vice President and CFO, and held leadership positions at Public Service Company of Indiana. Currently, Denault serves on the board of Huntington Ingalls Industries and is a Senior Advisor to ArcLight, focusing on power and utility infrastructure investments.

PG&E has announced the availability of more than $250,000 in college scholarships for students in Northern and Central California. The scholarships, funded by PG&E's 11 employee resource groups (ERGs) and two engineering network groups (ENGs), range from $1,000 to $6,000 per recipient. Applications are open until March 22, 2025.

The program, which has awarded over $6 million since 1989, aims to support college-bound high schoolers and current college students. The funds are raised through employee donations, fundraising events, and the company's employee giving program. More than 6,500 of PG&E's 28,000 employees participate in these groups, which include various cultural, professional, and identity-based networks.

PG&E is preparing for a major storm system expected to bring heavy rain and strong winds to Northern California through the weekend. The company has positioned crews and resources across its service area to ensure swift power restoration in case of outages. PG&E is utilizing storm outage prediction models with AI and machine learning to anticipate potential damage and optimize resource deployment.

The company has pre-staged essential equipment including power poles, powerlines, and transformers throughout its service area. PG&E has also implemented real-time customer update systems through their online outage center and is providing storm safety guidelines for residents, including proper generator usage, flashlight preparation, and emergency protocols for downed power lines.

PG&E (NYSE: PCG) has announced the pricing of two concurrent public offerings: 48,661,800 shares of common stock at $20.55 per share and 28,000,000 shares of Series A Mandatory Convertible Preferred Stock at $50.00 per share. The offerings are expected to generate net proceeds of approximately $2.35 billion, potentially reaching $2.71 billion if underwriters exercise their additional share options. The funds will support general corporate purposes, including PG&E's five-year capital investment plan. The Preferred Stock will automatically convert to common stock by December 1, 2027, and will pay a 6.000% annual dividend.

PG&E (NYSE: PCG) has announced the launch of two concurrent public offerings: $1.2 billion in common stock and $1.2 billion in Series A Mandatory Convertible Preferred Stock. The company will grant underwriters a 30-day option to purchase up to an additional $180 million of each stock type. The preferred stock will have a $50.00 per share liquidation preference and will automatically convert to common stock around December 1, 2027. Proceeds will support PG&E's five-year capital investment plan. The preferred stock will be listed on NYSE under 'PCG-PrA'. J.P. Morgan, Barclays, and Citigroup are leading the offerings as joint book-running managers.

PG&E (NYSE: PCG) has declared its fourth-quarter 2024 regular cash dividend of $0.025 per share on common stock, payable on January 15, 2025, to shareholders of record as of December 31, 2024. Additionally, its subsidiary Pacific Gas and Electric Company announced preferred stock dividends for eight series, payable on February 14, 2025, to shareholders of record as of January 31, 2025. The preferred stock dividends range from $0.27250 to $0.37500 per share across different series with rates between 4.36% and 6.00%.

PG&E (NYSE: PCG) has announced its fourth-quarter 2024 dividend payments. The company will distribute a regular cash dividend of $0.025 per share on its common stock, payable on January 15, 2025, to shareholders of record as of December 31, 2024.

Additionally, its subsidiary, Pacific Gas and Electric Company, declared regular preferred stock dividends for the period ending January 31, 2025, to be paid on February 15, 2025. The preferred stock dividends range from $0.27250 to $0.37500 per share across eight different series, including both redeemable and non-redeemable stocks. The redeemable preferred stocks carry rates from 4.36% to 5.00%, while non-redeemable preferred stocks range from 5.00% to 6.00%.

PG&E has provided over $50 million in financial assistance to nearly 58,000 customers through the REACH program in 2024. The program increased maximum customer bill credits from $500 to $2,000 and introduced a 3-to-1 match on customer bill payments. Fresno County received the highest distribution with $9.8 million across 13,743 approved applications. The company is now promoting additional support through CARE and FERA programs, which provided nearly $1 billion in customer bill reductions in 2023. CARE offers 20%+ monthly discounts on gas and electricity, while FERA provides 18% monthly electricity discounts for larger households.