California Water Service Group (CWT) will raise its quarterly dividend by 8.2 percent to $0.23 per share in 2021. This follows a 7.6 percent hike to $0.2125 per common share announced in the first quarter of 2020. This represents the company’s 54th consecutive annual dividend increase.

The quarterly dividend of 23 cents per common share will be payable on February 19, 2021 to stockholders of record on February 8, 2021. A new annual dividend rate of 92 cents per share yields 1.7% at a stock price of $54.56.

California Water Service Group is the parent company of California Water Service, Washington Water Service, New Mexico Water Service, Hawaii Water Service, CWS Utility Services, and HWS Utility Services. Together, these companies provide regulated and non-regulated water service to nearly 2 million people in California, Washington, New Mexico, and Hawaii.