An Energy Giant Touts Its Shareholders’ Pandemic Profits

Investor-owned Consolidated Edison is celebrating the returns it scored by putting the squeeze on struggling New Yorkers.
An Energy Giant Touts Its Shareholders’ Pandemic Profits
AP Photo/Frank Franklin II

Last year was a very good year for Consolidated Edison, the massive investor-owned power company that provides electricity to the New York area. As CEO Timothy Cawley announced during the company’s September earnings call, it just notched its record-setting 47th straight year of dividend increases. That means ConEd is just three boom years away from being crowned a “dividend king,” meaning it will join the elite group of publicly traded companies whose dividends have increased every year for half a century.

But to maintain this profitable winning streak, the power company had to make some very callous business decisions about its customers in the middle of the raging pandemic.

Find out about that and so much more in today’s Midday Poster below.

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