CON EDISON DECLARES DIVIDEND IN COMMON SHARES | national news

NEW YORK, January 20, 2022 /PRNewswire/ — Consolidated Edison, Inc. (Con Edison) (NYSE: ED) has declared a quarterly dividend of 79 cents one share in its ordinary shares, payable March 15, 2022 to shareholders registered in February 16, 2022, an annualized increase of 6 cents on the previous annualized dividend of $3.10 sharing.

“The 48th consecutive annual increase for shareholders, the longest stretch of consecutive annual dividend increases of any utility in the S&P 500 Index, reflects our ongoing focus on providing a return for our investors while meeting the needs of our customers during the transition to clean energy,” mentioned Robert Hoglund, senior vice president and chief financial officer of Con Edison. The company continues to target a dividend payout ratio of between 60% and 70% of its adjusted earnings.

This press release contains forward-looking statements that reflect an expectation and not a fact. Actual results may differ materially from these expectations due to factors such as those identified in the company’s filings with the Securities and Exchange Commission. Con Edison assumes no obligation to update forward-looking statements. This press release also refers to a financial measure, adjusted earnings, which is not determined in accordance with generally accepted accounting principles in The United States of America (GAAP). This non-GAAP financial measure should not be considered an alternative to net income (which is an indicator of financial performance determined in accordance with GAAP) and may exclude from net income amounts that the Company does not consider indicative of its business. continued financial performance.

Consolidated Edison, Inc. is one of the nation’s largest investor-owned power distribution companies, with approximately $12 billion in annual income and $63 billion in assets. The company offers a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc. (CECONY), a regulated utility providing electric service in New York City and the New York one Westchester County, gas service at manhattan, the Bronx, parts of queens and parts of Westchester, and steam service in manhattan; Orange and Rockland Utilities, Inc. (O&R), a regulated utility serving customers in a 1,300 square mile area in the Southeast New York State and from the north New Jersey; Con Edison Clean Energy Businesses, Inc., the second largest owner of solar power generation projects in North America, which, through its subsidiaries, develops, owns and operates renewable and sustainable energy infrastructure projects and provides energy-related products and services to wholesale and retail customers; and Con Edison Transmission, Inc., which falls primarily under the supervision of the Federal Energy Regulatory Commission and, through its subsidiaries, invests in electric transmission projects supporting its parent company’s efforts to transition to clean energy and renewable. Con Edison Transmission manages, through joint ventures, power and gas assets while seeking to develop power transmission projects that will bring clean, renewable electricity to customers, focusing on New York, New England, the Mid-Atlantic States and the Midwest.

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SOURCE Consolidated Edison, Inc.

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