Xylem (XYL) will raise its quarterly dividend by 8.3 percent to $0.26 per share in the first quarter of 2020. The water technology company hiked its dividend by double digits in each of the last seven years.

The new dividend yield for XYL is 1.0% and 2020 will mark the 8th consecutive year of dividend increases. The next dividend is payable on March 26, 2020, to shareholders of record as of February 27, 2020.

Xylem Inc. is water technology company. Xylem’s products and services move, treat, analyze, monitor and return water to the environment in public utility, industrial, residential and commercial building services settings. Xylem also provides a portfolio of smart metering, network technologies and advanced infrastructure analytics solutions for water, electric and gas utilities. The company's brands include Flygt, Wedeco, Godwin, Lowara, Flojet and Flowtronex. The name Xylem is derived from classical Greek and is the tissue that transports water in plants.