<div id="subtitle">Con-Ed's 4th-qtr profit increases 26 percent as fuel expenses drop; utility declares dividend</div><div><p>Consolidated Edison Inc. said Friday that its fourth-quarter profit grew 26 percent as fuel expenses dropped but electricity revenue rose.</p><p>Also Thursday, Con-Ed declared a quarterly dividend of 59.5 cents per share of common stock payable on March 15 for shareholders of record as of Feb. 17.</p><p>The power company, which serves customers in parts of New York, New Jersey and Pennsylvania, reported that it earned $202 million, or 73 cents a share, in the final three months of 2009. That compares with earnings of $160 million, or 58 cents a share, a year earlier.</p><p>Its quarterly revenue grew 9.2 percent to $3.27 billion.</p><p>For the full year, Con-Ed said its net income fell 27 percent on higher property taxes and maintenance and operations costs.</p><p>It earned $868 million, or $3.16 a share, for the year. That compares with $1.2 billion, or $4.38 a share, in 2008.</p><p>Its revenue fell 4.1 percent to $13 billion in 2009.</p><p>The company expects to earn $3.10 to $3.30 per share from ongoing operations in 2010.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=67469151&bid=informcom" /></div><div id="copyright"><div>

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