American Water Works Declares Quarterly Dividend
American Water Works Company, Inc.(NYSE: AWK) has recently announced that its board of directors has approved a quarterly cash dividend payment of $0.7075 per share of common stock.This dividend will be payable on December 1, 2023, to all shareholders of record as of November 14, 2023.The announcement comes as a continuation of the increase in the annualized dividend approved by the Board earlier this year.
As of the writing of this article, American Water Works Inc’s 12 Months dividend pay-out ratio has decreased to 55.6% in the second quarter of 2023.This decrease is unsurprising considering the increased earnings per share during the same period.It is worth noting that this pay-out ratio remains below AWK’s average, leading some to question whether American Water Works Inc will soon increase its dividend.
When comparing the performance of American Water Works Inc to its peers in the Utilities sector, it becomes apparent that 46 companies have a higher 12 Months dividend pay-out ratio.This comparison provides insight into the company’s position within the industry.
In terms of ranking among all other companies, American Water Works Inc has made a significant move from 0 in the first quarter of 2023 to 441.This improvement demonstrates the company’s growth and potential for future success.
Overall, American Water Works Inc’s declaration of a quarterly cash dividend payment reflects the company’s commitment to rewarding its shareholders.With a history of increasing earnings and a pay-out ratio that remains below the industry average, it will be interesting to see if further dividend increases will follow.
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