Dividend Aristocrat Consolidated Edison, Inc. (ED) reported 2019 net income for common stock of $1,343 million or $4.09 a share compared with $1,382 million or $4.43 a share in 2018. For the fourth quarter of 2019, net income for common stock was $295 million or $0.89 a share compared with $331 million or $1.06 a share in 2018.
Outlook and dividend history
The company expects its adjusted earnings per share for the year 2020 to be in the range of $4.30 to $4.50 a share. Analysts expect annual earnings of $4.50 per share.
The company also forecasts a five-year compounded annual adjusted earnings per share growth rate of 3% to 5% based on 2020 adjusted earnings per share guidance.
Consolidated Edison has increased its dividends for 46 consecutive years. In 2020, Consolidated Edison has raised its quarterly dividend from $0.74 to $0.765, representing a 3.3% increase. Current forward dividend yield 3.2%.
Consolidated Edison, Inc. operates as a holding company, which through its subsidiaries engages in the business of regulated electric, gas, and steam delivery. The company was founded in 1823 and is headquartered in New York, NY.