Unitil Increases Common Stock Dividend

Rhea-AI Summary

Unitil Corporation (NYSE: UTL) announced a quarterly dividend increase to $0.38 per share, raising the annualized dividend rate to $1.52. The first quarter dividend is payable on February 26, 2021, to shareholders of record as of February 12, 2021. This marks an unbroken record of quarterly dividend payments since the company's inception and reflects confidence in future growth, according to CEO Thomas P. Meissner, Jr.

Positive

• Quarterly dividend increased to $0.38 per share, raising annualized dividend rate to $1.52.
• Unbroken record of dividend payments since inception, showing reliability and commitment to shareholders.

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• None.

HAMPTON, N.H., Jan. 27, 2021 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE:UTL) (www.unitil.com) today announced that its Board of Directors raised the quarterly dividend on the Company’s common stock to $0.38 per share, increasing the effective annualized dividend rate by $0.02 to $1.52 per share.   Also today, the Board declared the first quarter common stock dividend of $0.38 per share, payable February 26, 2021, to shareholders of record on February 12, 2021.

“Recognizing the importance of the dividend to our shareholders, I’m pleased that we’ve again increased our quarterly dividend rate,” said Thomas P. Meissner, Jr., Unitil’s chairman, president, and chief executive officer. “This continues our unbroken record of quarterly dividend payments since trading began in Unitil’s common stock, and reflects the confidence we have in the outlook for continued growth.”

In addition to the unbroken record of continuously paying quarterly cash dividends, Unitil has never decreased the dividend on its common stock.

About Unitil Corporation
Unitil Corporation provides energy for life by safely and reliably delivering natural gas and electricity in New England. We are committed to the communities we serve and to developing people, business practices, and technologies that lead to the delivery of dependable, more efficient energy. Unitil Corporation is a public utility holding company with operations in Maine, New Hampshire and Massachusetts. Together, Unitil’s operating utilities serve approximately 107,100 electric customers and 85,600 natural gas customers. For more information about our people, technologies, and community involvement please visit www.unitil.com.

For more information please contact:                                                 

Todd Diggins – Investor Relations
Phone: 603-773-6504
Email: diggins@unitil.com

Alec O’Meara – Media Relations                                                                                               
Phone: 603-773-6404                                
Email: omeara@unitil.com

FAQ

What is the new dividend amount for Unitil Corporation (UTL)?

The new quarterly dividend amount for Unitil Corporation is $0.38 per share.

When will the dividend for UTL be paid?

The dividend will be paid on February 26, 2021.

What is the record date for Unitil's dividend?

The record date for the dividend is February 12, 2021.

How much has the dividend per share increased for UTL?

The dividend per share has increased by $0.02, raising the annualized rate to $1.52.