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California Water Service Group to Issue Quarterly Dividend

- By Jacob Maslow

California Water Service Group (CWT), which provides water utility to California, New Mexico, Washington and Hawaii, announced a quarterly dividend. Shareholders of record on Monday, Nov. 12 will be paid a dividend of 0.1875 cents per share on Friday, Nov. 23. This equates to a dividend yield of 1.655% and an annualized dividend of 75 cents.

Over the last three years, the company has increased its dividend by an average of 3.5% annually and has increased its dividend every year for the last 50 years. A 60% payout ratio means that all dividends are sufficiently covered by the company's earnings.