Dividend Coverage: This Dividend Aristocrat has a Dividend Yield of 3.30%; Will Trade Ex-Dividend on August 14, 2017

LONDON, UK / ACCESSWIRE / August 11, 2017 / Pro-Trader Daily takes a closer look at Consolidated Edison, Inc. (NYSE: ED) as the Company’s stock will begin trading ex-dividend on August 14, 2017. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date (excluding weekend), that is by latest at the end of the trading session on August 11, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:

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Today, PRO-TD covers ex-dividend news on ED. Get our free coverage by signing up at:

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Dividend Declared

On July 20, 2017, Consolidated Edison declared a quarterly dividend of $0.69 per share on its common stock, payable September 15, 2017, to stockholders of record as of August 16, 2017.

Consolidated Edison’s indicated dividend represents a yield of 3.30%, which is substantially above than the average dividend yield of 2.44% for the Utilities sector. The Company is a dividend aristocrat and it has raised its dividend for 42 consecutive years.

Dividend Insights

Consolidated Edison has a dividend payout ratio of 67.8%, which indicates that the Company distributes approximately $0.68 for every $1.00 earned. The dividend payout ratio reflects how much money 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 $4.20 for the upcoming year which is substantially above its annualized dividend of $2.76.

For the six months of 2017, Consolidated Edison generated cash flow from operating activities of $1.58 billion. As of June 30, 2017, the Company had cash and cash equivalents worth $816 million compared to cash of $776 million as on December 31, 2016. The Company’s current assets were $3.28 billion. The strong financial position indicates the Company’s ability to absorb any fluctuations in earnings and cash flow and to sustain its dividend distribution for a long period.

Recent Development about ALLETE

On August 02nd, 2017, Maine Power Express announced that it has partnered with County Line Wind to bid clean energy from Maine into the Massachusetts Clean Energy RFP.

The Maine Power Express (MPX) is a proposed 1,040 MW HVDC transmission line to be buried completely underground in an existing energy corridor and under water, direct to Boston, Massachusetts. Maine Power Express, LLC (MPX, LLC) and Con Edison Transmission, Inc. (CET), a subsidiary of Consolidated Edison have been advancing the development of MPX.

County Line Wind is a 630 megawatt (MW) wind facility located on forestry lands in Penobscot and Aroostook Counties in northern Maine. County Line Wind will use MPX to deliver a Class I Renewable Resource straight into Boston.

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 $48 billion in assets. The Company provides a wide range of energy-related products and services to its customers.

Stock Performance

At the closing bell, on Thursday, August 10, 2017, Consolidated Edison’s stock slightly climbed 0.46%, ending the trading session at $83.64. A total volume of 1.43 million shares have exchanged hands. The Company’s stock price rallied 5.26% in the last three months, 12.43% in the past six months, and 6.90% in the previous twelve months. Moreover, the stock surged 13.52% since the start of the year. The stock is trading at a PE ratio of 20.21 and has a dividend yield of 3.30%. The stock currently has a market cap of $25.64 billion.

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