American States Water Company (AWR) will raise its quarterly dividend by 7.8 percent to $0.275 per share in 2018. This marks the 64th consecutive year of annual dividend increases by the utility company.

The next dividend will be payable on August 31, 2018 to shareholders of record at the close of business on August 15, 2018. The new annual dividend yields 1.8% at a stock price of $60.06.

Since 1954, American States Water Company shareholders have received an increase in their aggregate annual dividend with an average dividend growth of 7.5 percent in the last five years.

“This increase in our quarterly dividend and our long-term dividend growth policy both reflect our Board’s continued confidence in the sustainability and growth of the company’s earnings at our Golden State Water Company and American States Utility Services, Inc. subsidiaries,” said Robert J. Sprowls, President and CEO of American States Water Company. “A strong and increasing dividend allows the company to continue attracting capital to make necessary investments in the systems for the communities and military bases that we serve.”

American States Water Company is the parent of Golden State Water Company and American States Utility Services, Inc. The company provides water service to customers located in Northern, Coastal and Southern California and distributes electricity to customers in the City of Big Bear and surrounding areas in San Bernardino County, California. Through its contracted services subsidiary, American States Utility Services, Inc., the company provides operations, maintenance and construction management services for water and wastewater systems located on military bases throughout the country under 50-year privatization contracts with the U.S. government.