SEC Filings

10-K
NRG ENERGY, INC. filed this Form 10-K on 02/29/2016
Entire Document
 
                

The following table summarizes the estimated environmental capital expenditures for the referenced periods by region:
 
 
Gulf Coast
East - Legacy NRG
 
East - GenOn
 
East - MWG
Total
 
 
(in millions)
2016
 
$

 
$

 
$
62

 
$
242

 
$
304

2017
 

 

 

 
6

 
6

2018
 

 
1

 

 
8

 
9

2019
 
7

 

 
1

 

 
8

2020
 
10

 

 
5

 
8

 
23

Total
 
$
17

 
$
1

 
$
68

 
$
264

 
$
350

NRG's current contracts with the Company's rural electrical customers in the Gulf Coast region allow for recovery of a portion of the regions' capital costs once in operation, along with a capital return incurred by complying with any change in law, including interest over the asset life of the required expenditures. The actual recoveries will depend, among other things, on the timing of the completion of the capital projects and the remaining duration of the contracts.
Common Stock Dividends
The following table lists the dividends paid during 2015:
 
Fourth Quarter 2015
 
Third Quarter 2015
 
Second Quarter 2015
 
First Quarter 2015
Dividends per Common Share
$
0.145

 
$
0.145

 
$
0.145

 
$
0.145

On January 18, 2016, NRG declared a quarterly dividend on the Company's common stock of $0.145 per share, or $0.58 per share on an annualized basis, payable on February 16, 2016, to stockholders of record as of February 1, 2016. The Company's common stock dividends are subject to available capital, market conditions, and compliance with associated laws and regulations. On February 29, 2016, the Company announced a reduction in its common stock dividend to $0.12 per share on an annualized basis.
Preferred Stock Dividend Payments
For the year ended December 31, 2015, NRG paid $9 million in dividend payments to holders of the Company's 2.822% Preferred Stock.
Capital Allocation Program
The Company‘s plan to allocate capital during 2016 is as follows:

Debt Reduction. The Company expects to allocate approximately seventy five percent (75%) of its capital available for allocation during 2016 to additional debt repurchases.  The Company may complete this action through cash purchases, exchange offers, privately negotiated transactions or otherwise, depending on prevailing market conditions, the Company’s liquidity requirements and other factors. 

Growth Investments.  The Company intends to use a portion of capital available for allocation during 2016 to complete its fuel repowerings, conversions and renewable investments.

Common Stock Dividends.  On February 29, 2016, the Company announced a reduction in its common stock dividend to $0.12 per share on an annualized basis.  The decision to reduce the common stock dividend is a proactive measure taken by the Company in order to reallocate capital in accordance with the priorities set forth in this section.

The Company will continue to monitor market conditions in light of the Company’s 2016 Capital Allocation Program to determine if adjustments are necessary in the future. 



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