CON EDISON DECLARES COMMON STOCK DIVIDEND

Rhea-AI Summary

Consolidated Edison (NYSE: ED) has declared a quarterly dividend of 85 cents per share on its common stock, payable March 14, 2025, to stockholders of record as of February 19, 2025. This represents an annualized increase of 8 cents over the previous annualized dividend of $3.32 per share.

The announcement marks Con Edison's 51st consecutive annual dividend increase, maintaining its record for the longest streak of consecutive annual dividend increases among utilities in the S&P 500 index. The company maintains its target dividend payout ratio between 55% and 65% of adjusted earnings.

Positive

• 51st consecutive annual dividend increase, demonstrating consistent shareholder returns
• Dividend increase of 8 cents annually from $3.32 to $3.40 per share
• Maintains stable dividend payout ratio target of 55-65% of adjusted earnings
• Longest dividend growth streak among S&P 500 utilities

Negative

• None.

NEW YORK, Jan. 16, 2025 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE: ED) declared a quarterly dividend of 85 cents a share on its common stock, payable March 14, 2025 to stockholders of record as of February 19, 2025, an annualized increase of 8 cents over the previous annualized dividend of $3.32 a share.

"The 51st consecutive annual dividend increase for stockholders extends our record for the longest period of consecutive annual dividend increases of any utility in the S&P 500 index and reflects our continued emphasis on providing a return to our investors while delivering safe, reliable and resilient service to our customers during the clean energy transition," said Kirk Andrews, Con Edison's senior vice president and chief financial officer. The company continues to target a dividend payout ratio of between 55% and 65% of its adjusted earnings.

This press release contains a forward-looking statement that reflects an expectation and not a fact. Actual results may differ materially from this expectation because of factors such as those identified in reports the company has filed with the Securities and Exchange Commission. Con Edison assumes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. This press release also refers to a financial measure, adjusted earnings, that is not determined in accordance with generally accepted accounting principles in the United States of America (GAAP). This non-GAAP financial measure should not be considered as an alternative to net income (which is an indicator of financial performance determined in accordance with GAAP) and may exclude from net income amounts that the company does not consider indicative of its ongoing financial performance.

Consolidated Edison, Inc. is one of the nation's largest investor-owned energy-delivery companies, with approximately $15 billion in annual revenues for year-ended 2023 and $69 billion in assets as of September 30, 2024. 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. (CECONY), a regulated utility providing electric service in New York City and New York's Westchester County, gas service in Manhattan, the Bronx, parts of Queens and parts of Westchester, and steam service in Manhattan; Orange and Rockland Utilities, Inc. (O&R), a regulated utility serving customers in a 1,300-square-mile area in southeastern New York State and northern New Jersey; and Con Edison Transmission, Inc., which falls primarily under the oversight of the Federal Energy Regulatory Commission and manages, through joint ventures, both electric and gas assets while seeking to develop electric transmission projects that will bring clean, renewable electricity to customers, focusing on New York and the Northeast.

 

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SOURCE Consolidated Edison, Inc.

FAQ

What is Con Edison's new quarterly dividend amount for 2025?

Con Edison's new quarterly dividend is 85 cents per share, payable March 14, 2025.

When is the record date for Con Edison's (ED) latest dividend?

The record date for Con Edison's latest dividend is February 19, 2025.

How much did Con Edison (ED) increase its annualized dividend in 2025?

Con Edison increased its annualized dividend by 8 cents over the previous dividend of $3.32 per share.

What is Con Edison's (ED) target dividend payout ratio?

Con Edison targets a dividend payout ratio between 55% and 65% of its adjusted earnings.

How many consecutive years has Con Edison (ED) increased its dividend?

Con Edison has increased its dividend for 51 consecutive years, the longest streak among utilities in the S&P 500 index.