Consolidated Edison (ED) DIvidends Date & History

Key Takeaways

• Consolidated Edison, Inc. (ED) offers a 3.2% dividend yield with quarterly payments of $0.8875 per share.
• The company has raised its dividend for 52 consecutive years, earning Dividend King status.
• Payout ratio hovers around 60%, signaling sustainable dividends backed by earnings.
• Recent annual dividend growth of about 4%, with total payouts rising from $3.16 in 2022 to $3.40 in 2025.
• Upcoming ex-dividend date is May 13, 2026, with payment on June 15, 2026.
• Modest yield relative to utility peers but appeals to conservative income seekers.

Dividend Overview

Consolidated Edison, Inc. (ED), a major New York-based utility serving millions of customers, maintains a reliable quarterly dividend policy. The current annualized dividend stands at $3.55 per share, delivering a yield of approximately 3.2% at recent stock prices around $110. Management targets a payout ratio of 55% to 65% of adjusted earnings, emphasizing stability over aggressive growth. This positions ED as a dividend growth stock rather than a high-yield play, with the next quarterly payout of $0.8875 scheduled for June 15, 2026, following the May 13 ex-dividend date. The profile suits investors prioritizing consistent income from regulated utilities.

Dividend History and Growth

Consolidated Edison has a storied dividend history spanning over 50 years, with quarterly cash payments increasing steadily from $0.075 per share in 1975 to $0.8875 today. Annual totals reflect this progression: $3.16 in 2022, $3.24 in 2023, $3.32 in 2024, and $3.40 in 2025, culminating in a 52nd consecutive annual increase announced in early 2026. Recent growth averages around 3-4% annually, including a 4.4% rise in the latest annualized figure. No cuts have occurred in decades, underscoring a long-term strategy of reliable, inflation-beating raises supported by stable utility revenues.

Dividend Sustainability and Payout Ratio

The dividend's sustainability is robust, with a payout ratio of about 61.6% based on trailing earnings, comfortably within the company's 55-65% target range. Earnings comfortably cover payments, providing roughly 1.6x coverage. While free cash flow (FCF, cash after capital expenditures) was negative at -$1.63 billion in 2024 due to heavy infrastructure investments—common in utilities—operating cash flow supports payouts. Debt levels are elevated, with total debt to equity at 115%, typical for regulated utilities funded by long-term bonds. Overall financial stability, bolstered by predictable rate-regulated revenues, affirms the dividend's safety.

Dividend Compared to Industry Peers

In the utilities sector, ED's 3.2% yield is modest compared to peers like Dominion Energy (D) at 4.4% or Evergy (EVRG) at 4.3%. Southern Company (SO) yields 3.2%, aligning closely, while the electric power subsector averages around 3-4%. ED trades higher yield for its exceptional growth streak and conservative payout, contrasting higher-yielding peers with shorter histories or riskier profiles.

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Is This Stock Attractive for Dividend Investors?

Consolidated Edison (ED) appeals to conservative dividend investors seeking stability over high yields. Its 52-year growth streak and regulated utility model provide reliable income, ideal for retirees or those prioritizing capital preservation amid volatility. Income-focused portfolios benefit from the 3.2% yield and quarterly cadence, while dividend growth enthusiasts value the consistent 3-4% annual raises outpacing inflation. However, the modest yield and interest rate sensitivity—common in utilities—may deter yield chasers or growth-oriented investors. High debt and capex needs introduce mild risks, though earnings coverage mitigates concerns. Long-term holders in defensive strategies find ED suitable for balanced, low-volatility exposure.

Disclaimer

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