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PG&E ups dividend, adds former Homeland Security secretary to boards

PG&E Corp. on May 31 boosted its quarterly common stock dividend by 4 cents per share to 53 cents per share. The change represents an annualized 8% increase to $2.12 per share, from $1.96 per share.

During the annual meeting of the company, shareholders also elected former U.S. Secretary of Homeland Security Jeh Johnson to the boards of PG&E and its subsidiary Pacific Gas and Electric Co.

Johnson will serve on the compliance and public policy committee and on the nuclear, operations, and safety committee of PG&E.

From December 2013 to January 2017, Johnson served as the head of homeland security. He is now a partner at the international law firm of Paul, Weiss, Rifkind, Wharton & Garrison LLP. He previously served as general counsel of the U.S. Department of Defense and general counsel of the U.S. Department of the Air Force.