Dividend increase Consolidated Edison (ED) – January 2019
Last week Consolidated Edison (ED) announced a 3.5% increase in its quarterly dividend. The dividend is raised from $0.715 to $0.74. The dividend pay date is March 15, 2019 to shareholders of record on February 13, 2019 (ex dividend February 12, 2019). This is the 45th Consecutive Annual Increase.
Robert Hoglund, senior vice president and CFO: “The increase in the dividend, the 45th 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. For 2019, the company expects to exceed its previously provided payout range of 60% to 70% of adjusted earnings as a result of non-cash earnings impact from its Sempra Solar acquisition.”
Vrijheid Fonds
The new dividend amount represents an annualized dividend amount of $2.96 per share, up from $2.86. The dividend yield on current price is 3.84 %.
My Vrijheid Fonds consist of 24 shares of ED, my annual dividends will increase by €1.79 ($2.04) after taxes. My projected annual total amount from my shares of ED will be €53 ($60) after taxes.
While Consolidated Edison’s dividend increase is small in size, I love this steady dividend increases!
Cheers,
Pollie
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