Consolidated Edison (ED) will raise its quarterly dividend by 3.2 percent from $0.63 to $0.65 per share. The increase in the dividend is the 41st consecutive annual increase for stockholders, the longest successive increases of any utility in the S&P 500 index.

"The company expects to pay to its stockholders between 60% and 70% of its earnings from ongoing operations in the years ahead," said John McAvoy, Con Edison's chairman, president and CEO. This expectation balances the company's opportunities to grow long-term earnings by investing capital to serve a growing economy with stockholders' desires for a current return on their investment.​

The utility company currently has an indicated dividend yield of 3.7% based on a stock price of $70.

Consolidated Edison, Inc. is an energy-delivery company. ED provides 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.