Unitil Increases Common Stock Dividend

Rhea-AI Summary

Unitil Corporation (NYSE: UTL) has announced an increase in its quarterly dividend to $0.39 per share, raising the annualized dividend rate to $1.56. The first quarter dividend will be payable on February 25, 2022, to shareholders recorded by February 11, 2022. This decision reflects the company's confidence in sustainable growth and commitment to shareholder value, maintaining an unbroken record of dividend payments since inception.

Positive

• Increased quarterly dividend to $0.39 per share, demonstrating financial strength.
• Maintains an unbroken record of dividend payments since trading began.
• Commitment to long-term, sustainable shareholder value.

Negative

• None.

HAMPTON, N.H., Jan. 26, 2022 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE:UTL) (unitil.com) today announced that its Board of Directors raised the quarterly dividend on the Company’s common stock to $0.39 per share, increasing the effective annualized dividend rate by $0.04 to $1.56 per share. Also today, the Board declared the first quarter common stock dividend of $0.39 per share, payable February 25, 2022, to shareholders of record on February 11, 2022.

“Recognizing the importance of the dividend to our investors, I’m pleased we’re in a strong position to further increase 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 and our commitment to creating long-term, sustainable shareholder value.”

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 107,700 electric customers and 86,600 natural gas customers. For more information about our people, technologies, and community involvement please visit 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)?

Unitil Corporation has raised the dividend to $0.39 per share.

When is the dividend payment date for Unitil Corporation?

The dividend will be paid on February 25, 2022.

What is the annualized dividend rate for Unitil Corporation after the increase?

The annualized dividend rate is now $1.56 per share.

Has Unitil Corporation ever decreased its dividend?

No, Unitil has never decreased its dividend on common stock.

Who is eligible for the dividend payment from Unitil Corporation?

Shareholders of record as of February 11, 2022, are eligible for the dividend.