Dominion Energy (D) will raise its quarterly dividend by 2.5 percent to $0.94 per share in 2020. This will mark the 17th consecutive year of dividend increases by the utility company.

The next dividend is payable on March 20, 2020, to shareholders of record at the close of business February 28, 2020. A new annualized dividend rate of $3.76 per share yields 4.5% at a stock price of $84.

According to the company this is the 368th consecutive dividend that Dominion Energy or its predecessor company has paid holders of common stock.

Dominion Energy is a provider of electricity, natural gas and related services to customers primarily in the eastern and Rocky Mountain regions of the United States. Dominion Energy’s portfolio of assets include electric transmission lines, electric distribution lines, natural gas transmission, gathering and storage pipelines and gas distribution pipelines. In January 2019, Dominion merged with SCANA Corporation, an energy company supplying electric power and natural gas to customers in the Carolinas and Georgia. The company is headquartered in Richmond, Virginia and incorporated in Virginia in 1983.