Ameren Corporation (AEE) will raise its quarterly dividend by 3.8 percent to $0.475 per share in the fourth quarter of 2018. This marks the utility holding company's fifth consecutive year of annual dividend increases.

The increased common share dividend is payable December 31, 2018, to shareholders of record at the close of business on December 12, 2018. The ex-date for this next dividend of 47.5 cents per share is December 11, 2018.

"We are pleased to announce an increase in our fourth quarter 2018 dividend," said Warner L. Baxter, chairman, president and chief executive officer of Ameren Corporation. "This action reflects confidence in the outlook for our businesses and ability to achieve our long-term earnings and rate base growth plans. Future dividend decisions will be driven by earnings growth, cash flows and other business conditions."

The new annualized equivalent dividend rate of $1.90 per share yields 3.0% at a stock price of $63.80. The previous annualized equivalent dividend rate for AEE was $1.83 per share.

Ameren Corporation is a utitilty company based in St. Louis. Ameren serves natural gas and electric customers through its Ameren Missouri and Ameren Illinois rate-regulated utility subsidiaries. Ameren Illinois provides electric distribution and transmission service, as well as natural gas distribution service, while Ameren Missouri provides vertically integrated electric service and natural gas distribution service. Ameren Transmission Company of Illinois develops regional electric transmission projects. Ameren became a public company in 1952 and has paid a dividend every year since 1998.