Quanta Services, Inc. (PWR) will increase its quarterly dividend by 25.0 percent to $0.05 per share. This is the first dividend hike by the contracting services company since a 4 cent quarterly payment was initiated in 2018.

The next dividend is payable January 16, 2020, to stockholders of record on January 2, 2020. A new annual dividend rate of 20 cents per share yields 0.5% at a stock price of $41.

Quanta's President and Chief Executive Officer, Duke Austin, commented, "This dividend increase reflects our continued confidence in the stability of Quanta's base business, Quanta's long-term growth prospects, and Quanta's solid financial position, as well as our commitment to enhancing stockholder value."

Quanta Services, Inc. is a specialized contracting services company, delivering infrastructure solutions for the utility, pipeline, energy and communications industries. Quanta's comprehensive services include designing, installing, repairing and maintaining energy and communications infrastructure. Quanta has operations throughout the United States, Canada, Latin America, Australia and select other international markets. The company initiated a quarterly dividend in 2018.