American Water board increases quarterly dividend 8.1% to 76.5c per share

American Water Works Company announced that its board of directors declared a quarterly cash dividend payment of 76.5c per share of common stock, an increase of 8.1%. “American Water continues to be an industry leader in dividend growth, which is a result of our successful execution of key strategic initiatives,” said M. Susan Hardwick, President and CEO, American Water. “We recognize the value of our dividend and the role it plays in delivering exceptional shareholder value.” The company expects to continue its dividend growth within a 7%-9% range over the long term, with a target dividend payout ratio of between 55%-60% of earnings. The increased quarterly dividend will be payable on June 3, 2024, to all shareholders of record as of May 14, 2024.