Southwest Gas (NYSE: SWX) declared a quarterly dividend of $0.52 per share, or $2.08 annualized. This is a 5.1% increase from the prior dividend of $0.495.

The dividend will be payable on June 1, 2018, to stockholders of record on May 15, 2018, with an ex-dividend date of May 14, 2018.

The annual yield on the dividend is 3 percent.

President and Chief Executive Officer John Hester noted, "We are pleased that the Company's strong operating performance and financial condition have positioned us to again increase the dividend. Dividend increases are necessary to facilitate competitive and reasonable returns for our shareholders. When setting the dividend rate, the Board's policy is to target a dividend payout ratio that is competitive in the industry (55‑65%) while maintaining strong credit ratings and the ability to fund future capital expenditures."

For a dividend history and other dividend-related data on Southwest Gas (SWX) click here.