Utility operator Portland General Electric (NYSE:POR) announced yesterday its second-quarter dividend of $0.275 per share, a near-2% increase over last quarter's payout of $0.27 per share.

The board of directors said the quarterly dividend is payable on July 15 to the holders of record at the close of business on June 25.

Portland General Electric President and CEO Jim Piro said, "PGE's strong operations, prudent financial management, and focus on delivering value to both our customers and our shareholders makes it possible to provide the seventh consecutive annual dividend increase since going public in 2006."

The regular dividend payment equates to a $1.10-per-share annual dividend, yielding 3.5% based on the closing price of Portland General Electric's' stock on May 22.

POR Dividend Chart

POR Dividend data by YCharts

Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.