Eversource Energy (ES) will raise its quarterly dividend by 5 percent to $0.535 per share in the first quarter of 2019. This marks the 21st consecutive year of dividend increases by the utility.

The next payable on March 29, 2019, to shareholders of record as of the close of business on March 5, 2019. A new annual dividend rate of $2.14 per share yields 3.1% at a stock price of $73.

“This increase illustrates the long-term soundness of our strategy to grow our business at an attractive rate through operational excellence, financial strength and meeting the rising clean energy needs of New England energy consumers,” said Jim Judge, chairman, president and chief executive officer of Eversource Energy.

Eversource Energy, formerly Northeast Utilities, is a utility holding company engaged in the energy delivery business. Eversource operates operates through three segments: electric distribution, electric transmission and natural gas distribution.