The board of American States Water Company (NYSE: AWR) approved an 8.2% increase in its quarterly cash dividend on July 28, raising the payout from $0.504 per share to $0.5455 per share.

This adjustment brings the annualized dividend to $2.182 per share. Based on the closing price of $88.06 on July 28, the forward yield is approximately 2.48%.

The increased dividend will be paid on September 2, 2026, to shareholders of record as of August 17. This marks the 72nd consecutive year the company has raised its annual dividend, a feat achieved by only a select few firms in the U.S. equity market.

American States Water Company has paid dividends every year since 1931. This latest increase represents the 361st consecutive quarterly distribution. Over the past five years, the company has grown its quarterly dividend at a compound annual growth rate of 8.4%.

President and Chief Executive Officer Robert J. Sprowls stated: "The board has once again approved a significant dividend increase, reflecting its ongoing confidence in the company's ability to achieve long-term sustainable profit growth and its desire to remain a leader in dividend growth within our industry." He noted that the rising dividend helps attract the capital needed for infrastructure investments, enabling the company to deliver safe and reliable service to its customers.

American States Water Company is the parent entity of Golden State Water Company, Bear Valley Electric Service, Inc., and American States Utility Services, Inc. It serves over one million people across ten states in the U.S. The company currently targets a long-term dividend growth rate of more than 7% on a compound annual basis.