PG&E suspends dividends over possible wildfire costs
PG&E Corp. and its utility subsidiary, Pacific Gas and Electric Co., warned investors Wednesday that they will stop issuing dividends due to the possibility that they could be held liable for October’s deadly Wine Country wildfires, which caused more than $9 billion in damage. PG&E Corp. will suspend dividends on its common stock beginning with the fourth quarter of 2017. Pacific Gas and Electric Co., which has its own preferred stock and operates on a slightly different fiscal year, will suspend its dividends starting with the three-month period ending on Jan. 31, 2018.