Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
CEG Parent
Our common stock is listed on the Nasdaq (trading symbol: CEG). As of January 31, 2026, there were approximately 62,892 record holders of common stock.
Stock Performance Graph
The performance graph below illustrates a four-year comparison of cumulative total returns based on an initial investment of $100 in CEG Parent common stock, as compared with the S&P 500 Stock Index and the Philadelphia Utility Sector Index (UTY), for the period 2022 through 2025.
This performance chart assumes:
• $100 invested on February 1, 2022, in CEG Parent common stock, the S&P 500 Stock Index, and the UTY, and
• All dividends are reinvested.
Value of Investment
2/1/22 12/31/22 12/31/23 12/31/24 12/31/25
CEG $100 $175 $240 $462 $734
S&P 500 $100 $86 $108 $135 $160
UTY $100 $107 $96 $116 $136
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Constellation
As of January 31, 2026, CEG Parent directly held the entire membership interest in Constellation.
Dividends
Our Board of Directors approved a 10% increase in the 2026 quarterly dividend per share compared to the 2025 quarterly dividend per share. The 2026 quarterly dividend will be $0.4265 per share.
The following table sets forth Constellation’s quarterly cash dividends per share paid during 2025 and 2024.
2025 2024
Fourth Quarter
Third Quarter
Second Quarter
First Quarter
Fourth Quarter
Third Quarter
Second Quarter
First Quarter
$ 0.3878 $ 0.3878 $ 0.3878 $ 0.3878 $ 0.3525 $ 0.3525 $ 0.3525 $ 0.3525
First Quarter 2026 Dividend
On February 20, 2026, our Board of Directors declared a regular quarterly dividend of $0.4265 per share on our common stock for the first quarter of 2026. The dividend is payable on Friday, March 20, 2026, to shareholders of record as of 5 p.m. Eastern time on Monday, March 9, 2026.
Unregistered Sales of Equity Securities
None.
Issuer Purchases of Equity Securities
Our Board of Directors considers share buybacks to be one of several ways we can provide value to our shareholders through our deployment of capital. The first is to maintain strong investment grade metrics in addition to the pursuit of organic and inorganic growth consistent with our role as a leader in the clean energy transition. Our deployment of capital can also include the repurchase of shares if they can be acquired at attractive prices and increases to our dividend, which currently targets a 10% annual growth rate. We take into account the excise taxes imposed and other administrative costs when assessing our repurchase program. We believe that our share buyback policy is in the best interests of our Company and its shareholders and is also consistent with the interest of our other stakeholders.
Since 2023, our Board of Directors authorized the repurchase of up to $3 billion of the Company's outstanding common stock. See Note 19 — Shareholders' Equity of the Combined Notes to Consolidated Financial Statements for additional information regarding our share repurchase program. There were no share repurchases under our share repurchase program during the three months ended December 31, 2025. As of December 31, 2025, there was $593 million of remaining authority to repurchase shares of the Company's outstanding common stock.
ITEM 6. RESERVED
Not Applicable.
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