American Water Works (AWK) will raise its quarterly dividend by 9.9 percent to $0.50 per share in the second quarter of 2019. This follows a 9.6 percent dividend hike by the water utility last year and marks the 11th consecutive year of dividend increases.

“American Water is a company that prepares for the future and is committed to being purpose driven, people powered, customer obsessed and the trusted source of everything water,” said Susan Story, president and CEO of American Water. “We continue to pay dividends to our shareholders that are aligned with our financial performance, while at the same time continue needed investment in our systems to ensure clean, safe, reliable and affordable water services for our customers and communities,” said Susan Story, president and CEO of American Water.

The increased dividend will be payable on June 4, 2019, to all shareholders of record as of May 13, 2019 and yields 1.9% based on the new annual dividend amount of $2.00 per share.

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.