Aqua America (NYSE:WTR) is letting its dividend flow. The company will dispense $0.175 per share of its stock on June 1 to shareholders of record as of May 17. This amount keeps the distribution steady, as it matches the firm's two previous payouts. Prior to that, Aqua America disbursed $0.165 per share.
In the press release announcing the new dividend, the company pointed out that it has paid a consecutive quarterly distribution for more than 65 years. Since the beginning of 2008, this has ranged from $0.125 per share to the current level.
The dividend annualizes to $0.70 per share. That yields 2.2% at Aqua America's most recent closing stock price of $31.43.
Fool contributor Eric Volkman has no position in Aqua America. The Motley Fool recommends Aqua America. 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.