Xylem (XYL) will raise its quarterly dividend by 14.3 percent to $0.24 per share in the first quarter of 2019. The water technology company hiked its dividend by 3 cents to 21 cents quarterly last year.

The new dividend yield for XYL is 1.3% and 2019 will mark the 7th consecutive year of dividend increases. The next dividend is payable on March 14, 2019, to shareholders of record as of February 14, 2019.

Xylem Inc. is water technology company. Xylem’s products and services move, treat, analyze, monitor and return water to the environment in public utility, industrial, residential and commercial building services settings. Xylem also provides a portfolio of smart metering, network technologies and advanced infrastructure analytics solutions for water, electric and gas utilities. The company's brands include Flygt, Wedeco, Godwin, Lowara, Flojet and Flowtronex. The name Xylem is derived from classical Greek and is the tissue that transports water in plants.