Unitil Corporation (UTL) will raise its quarterly dividend by 1.4 percent to $0.36 per share.

The increased dividend will be payable on February 28, 2017, to shareholders of record on February 14, 2017.

"We understand the importance of the dividend to our shareholders. Today we are pleased to report that once again we've increased our quarterly dividend rate. This reflects the continued 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.