Unitil (UTL) will raise its quarterly dividend by 1.4 percent to $0.35 per share in 2015. It's the first dividend increase since 1999 for the company that provides natural gas and electricity in New England. Unitil has an indicated dividend yield of 3.8% based on Monday's close of $37.32.

“We understand the importance of the dividend to our shareholders. Today we are very pleased to report that we’ve increased our dividend to ensure we continue to provide this value to our shareholders. This reflects the confidence we have in our business plan,” said Robert G. Schoenberger, Unitil’s chairman, president, and chief executive officer.

Unitil Corporation is a utility holding company.Unitil’s principal business is the local distribution of electricity and natural gas to customers throughout its service territories in the states of New Hampshire, Massachusetts and Maine. Unitil is the parent company of three wholly-owned distribution utilities: Unitil Energy, Fitchburg and Northern Utilities. Unitil has an unbroken record of continuously paying quarterly cash dividends and has never decreased the dividend on its common stock.