PG&E Corporation - PCG STOCK NEWS

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.

PG&E is accepting applications for its Resilience Hubs Grant program, offering a total of $400,000 in funding for climate resilience projects. The program will award four $25,000 grants and three $100,000 grants to eligible governmental organizations, educational institutions, or 501(c)3 nonprofits. The grants aim to create physical spaces or resources supporting community resilience during climate-driven disruptions.

The deadline is January 31, 2025, marking the final year of the program. Priority will be given to projects serving disadvantaged communities. The grants are funded by PG&E shareholders as part of wildfire resiliency investments mandated by the California Public Utilities Commission.

Pacific Gas and Electric Company (PG&E) has released energy-efficient tips to help customers manage their energy costs during the holiday season. The company highlights that 10% of typical household energy use comes from lighting and 31% from kitchen appliances. PG&E offers various cost-saving solutions including thermostat management, efficient cooking practices, and LED lighting recommendations. The company also promotes several assistance programs such as the CARE program offering 20% monthly discounts and the FERA program providing 18% electricity bill discounts for eligible households.