LONDON, UK / ACCESSWIRE / February 12, 2018 / Active-Investors has a free review on Consolidated Edison, Inc. (NYSE: ED) following the Company's announcement that it will begin trading ex-dividend on February 13, 2018. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on February 12, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on ED:
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On January 18, 2018, Consolidated Edison declared a quarterly dividend of $0.715 per share on its common stock, payable March 15, 2018, to stockholders of record as of February 14, 2018, an annualized increase of $0.10 per share over the previous annualized dividend of $2.76 a share.
Consolidated Edison's indicated dividend represents a yield of 3.80%, which is substantially higher compared to the average dividend yield of 2.49% for the Utilities sector. The recent dividend hike is the Company's 44th consecutive annual increase for stockholders. The increase continues the longest period of consecutive annual dividend increases of any utility in the S&P 500 index. Consolidated Edison expects to continue to pay its stockholders between 60% and 70% of its adjusted earnings.
Consolidated Edison has a dividend payout ratio of 69.8%, which means that the Company spends approximately $0.70 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Consolidated Edison is forecasted to report earnings of $4.26 for the next year, which is considerably above the Company's annualized dividend of $2.86 per share.
As of September 30, 2017, Consolidated Edison had cash and temporary cash investments of $69 million and total current assets of $3.10 billion For the nine months ended September 30, 2017, the Company's net cash flows from operating activities totaled $2.23 billion compared to $2.34 billion for the year ago same period. Consolidated Edison's balance sheet remains strong and the Company is well positioned over the long-term to sustain its dividend distribution.
On January 23, 2018, Consolidated Edison announced that it will release its 2017 earnings result on February 15, 2018, after the market closes.
About Consolidated Edison
Consolidated Edison is one of the United States largest investor-owned energy-delivery companies, with approximately $12 billion in annual revenues and $49 billion in assets. The Company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc., Orange and Rockland Utilities, Inc., Con Edison Clean Energy Businesses, and Con Edison Transmission, Inc.
Consolidated Edison was founded in 1884 and is based in New York, New York.
Stock Performance Snapshot
February 09, 2018 - At Friday's closing bell, Consolidated Edison's stock climbed 2.89%, ending the trading session at $76.89.
Volume traded for the day: 2.79 million shares, which was above the 3-month average volume of 1.97 million shares.
Stock performance in the past twelve-month period - up 3.36%
After last Friday's close, Consolidated Edison's market cap was at $23.17 billion.
Price to Earnings (P/E) ratio was at 19.28.
The stock has a dividend yield of 3.72%.
The stock is part of the Utilities sector, categorized under the Electric Utilities industry. This sector was up 1.8% at the end of the session.
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