American States Water Company (AWR) will raise its quarterly dividend by 9.0 percent to 36.5 cents per share in 2021. This follows a dividend hike of  9.8 percent to 33.5 cents per share in 2020 and marks 67 straight years of dividend increases by the water utility.

The next dividend will be payable on September 1, 2021 to shareholders of record at the close of business on August 16, 2021. A new annual rate of $1.46 per share yields 1.7% at a stock price of $88. The next ex-dividend date for AWR is August 13, 2021.

American States Water Company is the parent of Golden State Water Company and American States Utility Services, Inc. The company provides water service to customers located in Northern, Coastal and Southern California and distributes electricity to customers in the City of Big Bear and surrounding areas in San Bernardino County, California. Through its contracted services subsidiary, American States Utility Services, Inc., the company provides operations, maintenance and construction management services for water and wastewater systems located on military bases throughout the country under 50-year privatization contracts with the U.S. government. American States Water Company has paid dividends every year since 1931.