American States Water Co. (AWR:US), a California-based water service and electricity provider, approved a 14 percent increase to its quarterly dividend and plans a two-for-one stock split.
The third-quarter dividend will rise to 40.5 cents a share from 35.5 cents payable on Sept. 3, the San Dimas-based utility said today in a statement. The higher dividend will be applied prior to the Aug. 15 stock split, when holders of each share will get an additional share, the company said.
American States Water is the parent of Golden State Water and American States Utility Services. Its shares (AWR:US) have increased 48 percent over the past year to $54.42.
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