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www.pgecorp.comPG&E Corporation has scheduled a dividend payment on its 6.000% Series A Mandatory Convertible Preferred Stock on September 1, 2025. This payment follows the terms of the preferred stock offering, which allows dividends to be declared at an annual rate of 6.000% on a liquidation preference of $50.00 per share. The preferred stock is cumulative, and accumulated dividends will be payable when declared by the company's board of directors. This dividend payment is crucial for investors, reflecting the company’s commitment to return value to shareholders and maintain investor confidence amid operational challenges.
Dividend Payment DatePG&E Corporation has announced the payment of dividends on its 6.000% Series A Mandatory Convertible Preferred Stock, which will be payable on declared dates, with the next payment scheduled for December 1, 2025. Each share of this preferred stock has a liquidation preference of $50.00 and will automatically convert into common stock around December 1, 2027. The preferred stock dividends are cumulative and will be paid quarterly at a rate of 6.000% if declared by the board. This dividend strategy may impact PG&E’s cash flow management as it balances the payment of dividends against its obligations to common stockholders. The company has entered into an underwriting agreement to issue a total of 28 million shares of preferred stock to investors.
Dividend Payment DatePG&E Corporation's 6.000% Series A Mandatory Convertible Preferred Stock is set to convert into common stock on or around December 1, 2027. Each preferred share will automatically convert into between 1.9465 and 2.4331 shares of common stock, dependent on the stock's average price in a defined period preceding the conversion date. This conversion is part of a broader strategy to manage capital structure and reduce reliance on preferred dividends, which are cumulative and require PG&E to maintain regular payments to preferred shareholders. Financial implications include limiting common stock distributions until all preferred dividends are paid, influencing PG&E’s cash flow management in the lead-up to the mandatory conversion.
Conversion Date