A Large Water Dividend Gets Larger (AWK)
Investing in water is one of the trends that investors have gone after for years and years. After all, the future of the world and life depend entirely upon the availability of fresh water. American Water Works Company, Inc. (NYSE:…
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American Water Works just announced that its board of directors has authorized an increase in its quarterly cash dividend. Our prediction in February was ‘we think the dividend will go to $0.22 or $0.23 per’… The dividend was raised by almost 5% to $0.22 from its prior $0.21 rate.
Based upon a current share price of $21.15, the new $0.88 per year annualized payout generates a yield of 4.15%.
American Water is the largest public US water utility. It supplies drinking water and wastewater to roughly 16 million people in 35 states and two provinces in Canada.
The $21.15 share price compares to a 52-week trading range of $18.70 to $23.77.
JON C. OGG
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
