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Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE: ED) declared a quarterly dividend of 88.75 cents a share on its common stock, payable September 15, 2026 to stockholders of record as of August 19, 2026.

Consolidated Edison, Inc. is a holding company that 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., a regulated company primarily under the oversight of the Federal Energy Regulatory Commission, that develops and invests in electric transmission projects and owns interests in both electric and gas assets.

SOURCE Consolidated Edison, Inc.

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Few stocks earn their place in a retiree’s portfolio the way Consolidated Edison (NYSE:ED | ED Price Prediction) has. The New York utility delivers electricity, gas, and steam to roughly 3.7 million electric customers across the country’s busiest commercial district and just notched its 52nd consecutive year of dividend increases. Is that streak built to last another decade?

Dividend Snapshot Metric Value Annual Dividend $3.55 per share Dividend Yield 3.17% Consecutive Years of Increases 52 years Most Recent Increase 4.4% (January 2026) Dividend King Status Yes Payout Ratios Leave Room, but Free Cash Flow Is the Catch Con Ed paid $1.166 billion in dividends in 2025 against $4.8 billion in operating cash flow, an OCF payout ratio of just 24.3%. On an earnings basis, the $5.93 trailing EPS easily covers the $3.55 payout, and management’s 2026 adjusted EPS guidance of $6.00 to $6.20 drops the forward earnings payout ratio near 58%.

Metric Value Assessment Earnings Payout Ratio (TTM) ~60% Healthy Forward Earnings Payout Ratio ~58% Healthy OCF Coverage 4.1x Strong The catch: capex hit $4.764 billion in 2025, leaving free cash flow flat and historically negative. Like every regulated utility, Con Ed funds growth with fresh debt and equity, which is why the FCF payout ratio is not a clean signal here.

Leverage Is Elevated and Moody’s Is Watching Metric Value Assessment Total Liabilities / Equity $50.4B / $24.2B Aggressive (utility norm) EV/EBITDA 10.47x Manageable Cash on Hand (Q1 2026) $147M Thin Credit Outlook Moody’s Negative Watch item Con Ed is funding its $6.6 billion 2026 capex plan with up to $1.1B in common equity and $3.2B in long-term debt. That dilution is the price retirees pay for grid investment.

The Streak: 52 Years and Counting Year Annual Dividend 2026 $3.55 2025 $3.40 2024 $3.32 2023 $3.24 2022 $3.16 The 5-year CAGR sits near 3%, barely ahead of the recent CPI run rate. The 2026 hike of 4.4% is the largest in years.

Management Sounds Confident on the Investment Cycle CEO Tim Cawley framed the setup on the Q1 2026 call: “Our first-quarter results reflect the strength and durability of our regulated businesses, with reaffirmed adjusted earnings per share guidance driven by continued operational excellence and industry-leading reliability.” Reaffirmed guidance after a Q1 EPS miss signals confidence. The dividend isn’t in question.

The Verdict: Safe With Caveats Dividend Safety Rating: Safe. A 58% forward payout ratio, an 8.8% rate base CAGR through 2030, and 52 years of raises make a cut unlikely. Con Ed works for income if you want New York regulated cash flows and a yield that beats most bond ladders after tax. The risk to monitor: if rates stay near 4.49% on the 10-year and Moody’s downgrades, equity dilution would accelerate. For a retiree’s core income sleeve, this dividend earns its keep.