Aqua America, Inc. (WTR) Raises Quarterly Dividend 8.6%, 5-for-4 Stock Split
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Aqua America, Inc. (NYSE: WTR) declared a quarterly dividend of $0.19 per share, or $0.76 annualized. This is an 8.6% increase from the prior dividend of $0.175. The dividend will be payable on September 1, 2013, to stockholders of record on August 16, 2013, with an ex-dividend date of August 14, 2013. The annual yield on the dividend is 2.4 percent.
Additionally, for the seventh time in 17 years, the Board approved a stock split to be effected in the form of a 5-for-4 (25 percent) stock distribution.
"The Board of Directors takes its objective to increase shareholder value very seriously and continues to feel strongly about the importance of rewarding the company’s shareholders through increasing dividends, which have been paid without interruption for more than 65 years,” said Aqua America Chairman and CEO Nicholas DeBenedictis. “Due to the significant increase in earnings in recent years, our dividend payout ratio is now approximately 50 percent based on current earnings. The company continues to target a long–term goal of a dividend payout ratio of 60 to 70 percent."
For a dividend history and other dividend-related data on Aqua America, Inc. (WTR) click here.
Additionally, for the seventh time in 17 years, the Board approved a stock split to be effected in the form of a 5-for-4 (25 percent) stock distribution.
"The Board of Directors takes its objective to increase shareholder value very seriously and continues to feel strongly about the importance of rewarding the company’s shareholders through increasing dividends, which have been paid without interruption for more than 65 years,” said Aqua America Chairman and CEO Nicholas DeBenedictis. “Due to the significant increase in earnings in recent years, our dividend payout ratio is now approximately 50 percent based on current earnings. The company continues to target a long–term goal of a dividend payout ratio of 60 to 70 percent."
For a dividend history and other dividend-related data on Aqua America, Inc. (WTR) click here.
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