10 Best Dividend Stocks of All Time

7. Consolidated Edison, Inc. (NYSE:ED)

Number of Hedge Fund Holders: 35

Dividend Yield as of July 23: 3.52%

An American energy company, Consolidated Edison, Inc. (NYSE:ED) ranks seventh on our list of the best dividend stocks of all time. The company has been a solid dividend payer since 1885, never missing a beat when it comes to returning cash to shareholders. It has increased its payouts for 50 straight years, weathering six U.S. recessions along the way. Over this period, it has raised its payouts at a compound annual growth rate of nearly 6%. This track record proves that the company has its ducks in a row and is firmly on solid ground, consistently delivering reliable dividends to its investors. The company offers a quarterly dividend of $0.83 per share and has a dividend yield of 3.52%, as of July 23.

Consolidated Edison, Inc. (NYSE:ED) is one of the best dividend stocks of all time because the company is committed to meeting its shareholder commitments by planning to distribute 55% to 65% of its adjusted earnings as dividends, down from the previous target of 60% to 70%. The company aims to keep a larger portion of its earnings to support internal growth. This strategy is expected to boost earnings per share growth, potentially leading to higher total returns by combining dividend income with stock price gains as earnings rise.

Income investors frequently prefer utility companies due to their reliable cash flows, which are supported by steady demand and government-regulated pricing. Consolidated Edison, Inc. (NYSE:ED)’s first-quarter earnings highlight the strong rate base growth it expects for its utilities up until 2028. This growth is fueled by investments aimed at safeguarding equipment from climate change and developing an electric grid that can deliver 100% clean energy.

The number of hedge funds tracked by Insider Monkey owning stakes in Consolidated Edison, Inc. (NYSE:ED) jumped to 35 in Q1 2024, from 28 in the preceding quarter. These stakes are collectively valued at roughly $445 million. Among these hedge funds, D E Shaw was the company’s largest stakeholder in Q1.