Consolidated Edison raises dividend 1.3% in 2021

Dividend Aristocrat Consolidated Edison (ED) will raise its quarterly dividend by 1.3 percent to $0.775 per share in 2021. This marks the utility company's 47th consecutive year of higher dividends.

The new quarterly dividend of 77.5 cents a share on its common stock, payable March 15, 2021 to stockholders of record as of February 17, 2021, an annualized increase of 4 cents over the previous annualized dividend of $3.06 a share.

"The 47th 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 pandemic," said Robert Hoglund, Con Edison's senior vice president and chief financial officer. Primarily as a result of the financial impact of the pandemic, the company expects 2020 adjusted earnings to be at the low end of the guidance provided in November 2020 of $4.15 to $4.30 per share. The annualized dividend increase of 4 cents reflects the anticipated ongoing impact of the pandemic in 2021. The company continues to target a dividend payout ratio of between 60% and 70% of its adjusted earnings. Given the expected continuing impact of the pandemic, the company expects the payout to be above the target range for 2021.


  • 2021: +1.3%
  • 2020: +3.4%
  • 2019: +3.5%
  • 2018: +3.6%
  • 2017: +3.0% 

Consolidated Edison will now be paying its shareholders an estimated $1.06 billion in dividends annually. This 2021 dividend hike is the smallest in the last nine years. However Consolidated Edison had raised its dividend by less than 1 percent annually for many years through 2012, with dividend growth picking up in 2013. The biggest dividend hike in the last decade was announced in 2018 with a 3.6 percent increase.

 Consolidated Edison, Inc. is one of the nation's largest investor-owned energy-delivery companies, with approximately $12 billion in annual revenues and $56 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.

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