Dividend Aristocrat Consolidated Edison (ED) will raise its quarterly dividend by 3.4 percent to $0.765 per share in 2020. This marks the utility company's 46th consecutive year of higher dividends.

The increased dividend is payable March 16, 2020 to stockholders of record as of February 19, 2020. A new annualized dividend rate of $3.06 per share yields 3.4% at a stock price of $90.83.

“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,” said Robert Hoglund, Con Edison’s senior vice president and chief financial officer in the company's press release. 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.

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.