Dividend Yield: 4.4%
First up, we have Consolidated Edison (ED) — a consistent dividend bet if there ever was one.
Edison has paid out dividends since 1885 — that’s right, nearly 130 years — and has earned a place among InvestorPlace’s Dependable Dividend Stocks. ED’s current quarterly payout sits at 61.5 cents per share and makes for a 4.4% yield that easily boasts rising 10-year notes.
While Edison’s dividend growth isn’t anything to scream about, it did accelerate a bit early this year, when ED hiked it by a penny, vs. the half-penny improvements it has been making for years. In total, ED has only bolstered its payout by 10% in the past decade, but it’s a durable growth — Edison has hiked its dividends for 40 consecutive years.
ED does have a bit of a red flag in that its P/E of 16 is slightly higher than its five-year average, but that average was pretty skewed by the financial crisis; otherwise, it’s right on par with where Edison stock traded before the 2008-09 dip.
Sure, ConEd’s growth prospects are limited — earnings are slated to grow by less than 2% a year for next half-decade — and ED stock is flat so far this year, but if you’re looking for steady income, Edison’s as good as it gets.