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PG&E Corporation Raises Common Stock Dividend

03/16/2007

(San Francisco) – PG&E Corporation (NYSE: PCG) today declared its first quarter 2007 dividend at 36 cents per share, an increase of 3 cents over the previous level of 33 cents per share. This action is consistent with the company’s targeted dividend payout ratio of between 50 percent to 70 percent of earnings.

The first quarter dividend is payable on April 15, 2007, to shareholders of record on March 30, 2007. In order to be considered a shareholder of record, you must have purchased the stock at least three trading days before the applicable record date.

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NYSE: PCG

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