Clinton’s Connecticut Water Service Inc. is raising its dividend 4 percent, the largest hike in its 58-year history.
CEO Eric W. Thornburg cited confidence by the state’s largest public water utility that it is set to reap long-term financial benefit from its investments in acquisitions, infrastructure and customer service.
The new dividend of 25.75 cents a share vs. 24.75 cents previously will be paid Sept. 16 to common stockholders on record by Sept. 2.
The board of directors also declared a quarterly cash dividend of 20 cents a share on its preferred A stock, payable Oct. 1 to holders of record by Oct. 1; and set 22.5 cents on its preferred 90 shares to be paid Nov. 3 to holders of record on Oct. 20.
