Dividend Aristocrat Consolidated Edison (ED) will raise its quarterly dividend by 3.5 percent to $0.715 per share. This marks the utility company's 45th consecutive year of higher dividends.

The increased dividend is payable March 15, 2019 to stockholders of record as of February 13, 2019. A new annualized dividend rate of $2.96 per share yields 3.9% at a stock price of $76.51.

“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,” 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. 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.

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.