Aesop was born into slavery in Greece around 620 BC. His tremendous intelligence did more than earn him his freedom.He rose to become a respected advisor to kings and city-states.

One of Aesop’s most famous fables is the tortoise and the hare. An arrogant, speedy hare brags to a plodding turtle about how fast he is. The plodding turtle challenges Aesop to a race. The hare took a commanding lead and looks back, feeling confident that he will win the race. The hare decides to take a ‘power nap’. The slow and steady turtle passes the hare and wins the race.

The moral of Aesop’s fable:  slow and steady wins the race.

Aesop’s story of the tortoise and the hare reminds me of Consolidated Edison (ED).

Consolidated Edison’s History

Consolidated Edison can trace its history back to 1823 – nearly 200 years ago. Back then, the company was known as New York Gas Light Company.

In 1884, representatives of several gas light utilities throughout New York came together and consolidated their respective companies into a new business – the Consolidated Gas Company of New York. The company continued to grow and acquire gas, electric, and steam companies serving New York City and Westchester County.In 1936, the company changed its name to Consolidated Edison.

Consolidated Edison has paid increasing dividends for 41 consecutive years. The company is the only utility in the S&P 500 with 30+ years of increasing dividends. Consolidated Edison’s dividend growth over the last 41 years is shown below:

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Consolidated Edison Business Overview

Consolidated Edison is primarily a regulated utilities business.The company has generated 89% of its revenue from its regulated utilities business segments through the first 9 months of fiscal 2015.

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The company operates in 3 segments: