Family offices are organizations set up to invest for wealthy families so as to generate income, protect assets and produce returns that top the market. Consolidated Edison (NYSE: ED [FREE Stock Trend Analysis]) is a publicly traded utility that can accomplish all of those objectives. Here are three reasons why family offices should be long-term investors in the company.
It is difficult to find a better income stock than Consolidated Edison. At present, the average dividend yield for a member of the S&P's 500 Index is just under two percent. For Consolidated Edison, it is 4.56 percent. In addition, Consolidated Edison is a "Dividend Aristocrat." That means it has increased the amount of the dividend paid annually for at least 25 years. So the longer a family office owns shares of Consolidated Edison, the more it is paid in dividends.
Source: Benzinga
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