Dividend Kings List: Top 5 Stocks

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

Dividend Yield as of March 6: 3.16%

On March 4, KeyBanc raised its price recommendation on Consolidated Edison, Inc. (NYSE:ED) to $96 from $86 and maintained an Underweight rating on the shares. The firm noted that the company recently reported its fourth-quarter results and provided a broad update to investors. This included guidance for 2026, a refreshed capital plan, a long-term EPS CAGR outlook, and an updated financing plan. According to the analyst, most of these items came in largely in line with expectations.

On February 23, Consolidated Edison also announced a public offering of 7 million common shares. The shares will be sold by J.P. Morgan Securities, which is acting as the underwriter. The shares will be borrowed by a forward counterparty from third parties and then sold in the market. Under the forward sale agreement, Con Edison expects to issue and deliver the same number of shares to the counterparty once the agreement is settled. At that point, the company will receive cash based on a predetermined forward price.

The company said it plans to use the proceeds to support capital needs at its subsidiaries and for general corporate purposes. Settlement of the agreement is expected to occur by December 31, 2026. Con Edison may also choose to settle earlier, or in some cases opt for cash or net share settlement, depending on the circumstances.

Consolidated Edison, Inc. (NYSE:ED) operates as an energy-delivery company. Through its subsidiaries, including Consolidated Edison Company of New York, Inc. (CECONY), Orange and Rockland Utilities, Inc. (O&R), and Con Edison Transmission, Inc., the company provides a range of energy-related products and services to its customers.