How Safe is Consolidated Edison's Dividend?

Consolidated Edison (NYSE: ED) has grown its over-180-year-old utility business in line with the growth of its primary market, New York City. And, along the way, it has increased its dividend for an amazing 43 years and counting. Although it's expensive today, if you are looking for a steady dividend payer this utility and its 3.2% yield should be on your shortlist. Con Ed's dividend growth probably won't excite you in any one year, but this investment-grade utility has created a dividend record that few companies of any kind have matched. Here's a quick primer on what you need to know about Con Ed.

Con Ed operates in and around New York City, providing electricity to around 3.6 million customers in this vibrant, growing, and financially important region. It also provides natural gas to around 1.2 million customers, and steam within parts of the Big Apple for things like heating. These government-regulated businesses represent about 90% of the company's GAAP earnings. It's the foundation on which Con Ed's impressive dividend record has been built.

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Source: Fool.com