Aqua America Hikes Dividend, Splits Stock
Water utility operator Aqua Americaannounced today the third-quarter dividend increase of 9% to $0.19 per share that it announced on May 8. It became effective on September 1 and was priced at the market's open today.
At the same time the utility operator said that its previously announced 5-for-4 stock split also became effective today with the increased dividend being applied to the shares prior to the stock split.
The regular dividend payment equates to a $0.76-per-share annual dividend, yielding 3.1% based on the closing price today of Aqua America's stock. The equivalent quarterly dividend rate after the stock split would be $0.152 per share on the increased number of shares resulting from the stock distribution, or $0.608 per share on an annualized basis.
WTR Dividend data by YCharts. Chart does not reflect the current dividend and stock split announcements
The article Aqua America Hikes Dividend, Splits Stock originally appeared on Fool.com.
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