Unitil Corporation (UTL) will raise its quarterly dividend by 1.4 percent to $0.365 per share in the first quarter of 2018. Last year UTL also hiked its dividend by 1.4 percent, marking the third consecutive year of higher dividend payments.

The new dividend is payable February 28, 2018, to shareholders of record on February 14, 2018. 

“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 growth 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.