PG&E’s stock powers up toward a 4-year high after plan to pay first dividend in more than 6 years

Shares of PG&E Corp. PCG powered up 2% toward a four-year high in premarket trading Tuesday, after the California-based gas and electric utility said it was reinstating its dividend. The company said shareholders of record on Dec. 29 will receive a penny for each share they own on Jan. 15. The last time PG&E paid a dividend of 53 cents a share in September 2017; the company had suspended the dividend in December 2017 because of liabilities for the Northern California wildfires. “Declaring a dividend enables PG&E Corporation to attract new sources of capital from the financial markets, which are critical to funding PG&E’s…