American Water Works (AWK) will raise its quarterly dividend by 9.5 percent to $0.6025 per share in 2021. This follows a dividend hike of 10.0 percent to $0.55 per share in 2020 and marks the 13th consecutive year of dividend increases by the water utility company.

The increased dividend will be payable on June 1, 2021 to all shareholders of record as of May 11, 2021. The new annual dividend amount of $2.41 per share yields 1.6% at a stock price of $154.44. The next ex-dividend date for AWK is May 10, 2021.

American Water Works Company, Inc. is a water and wastewater utility company.  The company conducts the majority of its business through regulated utilities that provide water and wastewater service. American Water also operates market-based businesses that provide complementary services. The company’s utilities provide water and wastewater services to residential, commercial, industrial, public authority, fire service and sale for resale customers. American Water has increased its dividend every year since its IPO in April 2008. The history of American Water Works Company dates back to 1886.