10 Dividend Zombies and Kings with Longest Dividend Payouts

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

Consecutive Years of Dividend Payments: 139

Consolidated Edison, Inc. (NYSE:ED) is a New York-based energy company that offers electric, gas, and steam services to its consumers. Income investors often favor utility companies because they offer predictable cash flows, supported by consistent demand and government-regulated rate structures. The company’s first-quarter earnings reflect the solid rate base growth it projects for its utilities through 2028. This growth is driven by investments to protect its equipment from climate change and to build an electric grid capable of delivering 100% clean energy.

Consolidated Edison, Inc. (NYSE:ED) is one of the dividend zombies on our list as the company has paid regular dividends to shareholders for the past 139 years. Moreover, it has raised its dividends through six US recessions, with a dividend growth streak spanning over 50 years. Over this period, it has raised its payouts at a compound annual growth rate of 5.65%. The company’s quarterly dividend comes in at $0.83 per share for a dividend yield of 3.67%, as of June 20. Even though its dividend growth rate is a bit slow, the company’s long history of consistent dividend payments makes it a rock-solid choice for income investors.

Consolidated Edison, Inc. (NYSE:ED) is dedicated to fulfilling its obligations to shareholders as the company has announced that it aims to pay 55% to 65% of its adjusted earnings through dividends. This is a reduction from its previous target of 60% to 70%. The company intends to retain more of its earnings to fund growth internally. This strategy is expected to accelerate earnings per share growth, positioning the company to potentially achieve higher total returns by combining dividend income with stock price appreciation as earnings increase.

According to Insider Monkey’s database of Q1 2024, 35 hedge funds, up from 28 in the previous quarter, owned stakes in Consolidated Edison, Inc. (NYSE:ED). The total value of these stakes is roughly $445 million.