American States Water Company (AWR) will raise its quarterly dividend by 10.9 percent to $0.305 per share in 2019. This marks the 65th consecutive year of annual dividend increases by the utility company.

The next dividend will be payable on September 3, 2019 to shareholders of record at the close of business on August 15, 2019. A new annual rate of $1.22 per share yields 1.6% at a stock price of $78.

“This sizable dividend increase and our long-term dividend growth policy reflect our Board’s continued confidence in the sustainability and growth of the company’s earnings," said Robert J. Sprowls, President and CEO of American States Water Company. “A strong and increasing dividend allows the company to continue to attract capital to make necessary investments in the utility infrastructure 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. American States Water Company has paid dividends every year since 1931.