Consolidated Edison (NYSE:ED) is hewing to its long-standing tradition of distributing a shareholder payout. The company has declared a quarterly common stock dividend of $0.615 per share, to be paid on December 15 to shareholders of record as of November 13. That amount matches each of the firm's three preceding distributions, the most recent of which was paid in September. Prior to that, Con Edison was less generous by $0.01, handing out $0.605 per share.

The firm has been a regular and steady dividend payer for decades. It has increased its disbursement for 39 consecutive years.

The just-declared dividend annualizes to $2.46 per share. That yields 4.3% at Con Ed's most recent closing stock price of $56.86.

Fool contributor Eric Volkman has no position in Consolidated Edison. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.