Consolidated Edison raises dividend for 44th year
The dividend will be increased to $0.715 per share, up 3.6 percent from last year when the dividend was raised by 3.0 percent. The increased dividend is payable March 15, 2018 to stockholders of record as of February 14, 2018.
“The increase in the dividend, the 44(th) consecutive annual increase for stockholders, reflects our continued emphasis on providing a return to our investors while meeting the needs of our customers,” said Robert Hoglund, Con Edison’s senior vice president and chief financial officer. The increase continues the longest period of consecutive annual dividend increases of any utility in the S&P 500 index. The company expects to continue to pay its stockholders between 60% and 70% of its adjusted earnings.
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| Utility company Consolidated Edison has raised its dividend for 44 straight years |
Consolidated Edison, Inc. is one of the nation's largest investor-owned energy-delivery companies, with approximately $12 billion in annual revenues and $49 billion in assets. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc., a regulated utility providing electric, gas and steam service in New York City and Westchester County, New York; Orange and Rockland Utilities, Inc., a regulated utility serving customers in a 1,300-square-mile-area in southeastern New York State and northern New Jersey; Con Edison Clean Energy Businesses, Inc., which through its subsidiaries develops, owns and operates renewable and energy infrastructure projects and provides energy-related products and services to wholesale and retail customers; and Con Edison Transmission, Inc., which through its subsidiaries invests in electric and natural gas transmission projects.
