American Water Works (AWK) will raise its quarterly dividend by 9.6 percent to $0.455 per share in the second quarter of 2018. This follows a 10.7 percent dividend hike by the water utility last year and marks the 10th consecutive year of higher dividend payments.

The increased dividend will be payable in June 2018 to all shareholders and yields 2.2% based on the new annual dividend amount of $1.82 per share. The company has increased its dividend every year since its IPO in April 2008.

American Water Works Company, Inc. is a water and wastewater utility company.  The company conducts the majority of its business through regulated utilities that provide water and wastewater service. American Water also operates market-based businesses that provide complementary services. The company’s utilities provide water and wastewater services to residential, commercial, industrial, public authority, fire service and sale for resale customers. American Water has increased its dividend every year since its IPO in April 2008. The history of American Water Works Company dates back to 1886.