Con Edison (ED) increases dividend by 2.5%, its 50th consecutive annual increase

Consolidated Edison, Inc. (Con Edison) (NYSE: ED) declared a quarterly dividend of 83 cents a share on its common stock, payable March 15, 2024 to stockholders of record as of February 14, 2024, an annualized increase of 8 cents over the previous annualized dividend of $3.24 a share.

“The 50th 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 now plans to target a dividend payout ratio of between 55% and 65% of its adjusted earnings in anticipation of higher levels of future capital investment and the associated funding needs.

Con Edison