AES Corp (AES) will raise its quarterly dividend by 5.0 percent to $0.1433 per share in the first quarter of 2020. This will mark the 7th consecutive year of dividend increases by the utility company and matches last year's dividend hike by the power company.

The next dividend is payable on February 14, 2020 to shareholders of record at the close of business on January 31, 2020. A new annualized dividend of $0.5732 per share for AES yields 2.9% at a stock price of $19.84.

The AES Corporation is a global power company, operating a portfolio of electricity generation and distribution businesses through its subsidiaries and affiliates. AES operates worldwide through its portfolio of distribution businesses as well as thermal and renewable generation facilities. The company is organized into four market-oriented SBUs: US and Utilities (United States, Puerto Rico and El Salvador); South America (Chile, Colombia, Argentina and Brazil); MCAC (Mexico, Central America and the Caribbean); and Eurasia (Europe and Asia). AES went public on June 25, 1991. The company was originally founded as Applied Energy Services, which was later contracted to AES. Today the company’s legal name is The AES Corporation.