The board of directors of Essential Utilities Inc. (NYSE:WTRG) today declared a quarterly cash dividend of $0.2682 per share, payable Sept. 1, 2021 to all shareholders of record on Aug. 13, 2021.
The Sept. 2021 dividend will represent a 7% increase compared to the $0.2507 cash dividend the company paid in June of this year. This marks the 31st dividend increase in the past 30 years, and the company has paid a consecutive quarterly cash dividend for more than 75 years. Following the increase, the annualized dividend rate will be $1.0728 per share. The company’s targeted dividend payout ratio continues to be 60 to 65% of net income.
“We are proud of our commitment to providing safe and reliable access to natural resources while continuing our long history of paying consistent and growing dividends,” said Essential Chairman and CEO Christopher Franklin. “Our focus on operational excellence, investment in infrastructure, protecting the environment, serving our customers and delivering value to our shareholders is evidenced by this increase, which marks 30 consecutive years of dividend growth.”