Water utility operator Aqua America (NYSE:WTR) announced 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.
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