By Kelly Cloonan
American Water Works has raised its dividend 8.2% to about 83 cents per share.
The new payout, equal to $3.31 a year, represents an annual yield of about 2.3% based on Tuesday's closing price of $145.86.
The Camden, N.J., water and wastewater utility said the increased dividend will be paid on June 3 to shareholders of record as of May 13.
The company said it expects to continue its dividend growth within a 7% to 9% range over the long term, with a target dividend payout ratio of between 55% and 60% of earnings.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
April 30, 2025 11:17 ET (15:17 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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