Dividend increase Consolidated Edison (ED) – January 2020
Last week Consolidated Edison (ED) announced a 3.38% increase in its quarterly dividend. The dividend is raised from $0.74 to $0.765. The dividend pay date is March 16, 2020 to shareholders of record on February 19, 2020 (ex dividend February 18, 2020). This is the 46th Consecutive Annual Increase.
Robert Hoglund, senior vice president and CFO: “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. 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.”
The new dividend amount represents an annualized dividend amount of $3.06 per share, up from $2.96. The dividend yield on current price is 3.44 %.
My Vrijheid Fonds consist of 24 shares of ED, my annual dividends will increase by €1.84 ($2.04) after taxes. My projected annual total amount from my shares of ED will be €56 ($62) after taxes.
While Consolidated Edison’s dividend increase is small in size, I love this steady dividend increases!