Con Edison Declares Common Stock Dividend
January 16 2020 - 4:33PM
Consolidated Edison, Inc. (Con Edison) (NYSE: ED) declared a
quarterly dividend of 76.5 cents a share on its common stock,
payable March 16, 2020 to stockholders of record as of February 19,
2020, an annualized increase of 10 cents over the previous
annualized dividend of $2.96 a share.
“The increase in the dividend, the 46th 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 continues to target a dividend
payout ratio of between 60% and 70% 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. 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 $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.
Contact: Robert McGee212-460-4111
Consolidated Edison (NYSE:ED)
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