Con Ed (ED) raises dividend 2.5%

Con Edison (ED) announced its next dividend of $0.81/share, marking their 49th consecutive annual increase.

Consolidated Edison, Inc. (Con Edison) (NYSE: ED) declared a quarterly dividend of 81 cents a share on its common stock, payable March 15, 2023 to stockholders of record as of February 15, 2023, an annualized increase of 8 cents over the previous annualized dividend of $3.16 a share.

“The 49th consecutive annual increase for stockholders, the longest period of consecutive annual dividend increases of any utility in the S&P 500 index, reflects our continued emphasis on providing a return to our investors while meeting the needs of our customers during the clean energy transition,” said Robert Hoglund, Con Edison’s senior vice president and chief financial officer. The company continues to target a dividend payout ratio of between 60% and 70% of its adjusted earnings.