Utility operator Pinnacle West Capital (NYSE:PNW) announced yesterday its third-quarter dividend of $0.545 per share, the same rate it's paid for the past three quarters after raising the payout 4% from $0.525 per share.
The board of directors said the quarterly dividend is payable on Sept. 3 to the holders of record at the close of business on Aug. 1. The utility operator has made quarterly payouts to investors since 1997.
The regular dividend payment equates to a $2.18-per-share annual dividend, yielding 4% based on the closing price of Pinnacle West Capital's stock on June 19.
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.