American States Water increases quarterly dividend 8.3% to 50.4c per share
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 31 2025
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Should l Buy AWR?
Dividend Increase: American States Water's board of directors approved an increase in the third quarter cash dividend to 50.4 cents per share, up from 46.55 cents per share.
Common Shares Impact: The dividend increase applies to the common shares of the company.
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Analyst Views on AWR
About AWR
American States Water Company is a holding company. The Company’s segments include water, electric and contracted services. Within the segments, The Company has three principal business units: water and electric service utility operations conducted through its regulated utilities, Golden State Water Company (GSWC) and Bear Valley Electric Service, Inc. (BVES), respectively, and contracted services conducted through American States Utility Services, Inc. (ASUS) and its subsidiaries. GSWC is a public water utility engaged in the purchase, production, distribution and sale of water in 10 counties in the state of California. BVES is a public electric utility that distributes electricity in several San Bernardino County Mountain communities in California. ASUS operates, maintains and performs construction activities (including renewal and replacement capital work) on water and/or wastewater systems at various United States military bases.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Long-Term Stable Returns: American States Water has raised its annual dividend for 71 consecutive years, targeting a compound annual growth rate of over 7% for future dividends, with its monopoly position in the water and electricity sector ensuring stable demand and predictable earnings.
- Historic Dividend Payer: York Water has paid dividends for 209 consecutive years, making it one of the longest-standing dividend-paying companies in the U.S., with its stable cash flow and undervaluation attracting long-term investors' interest.
- Market Potential: York Water plans to apply for a significant rate increase from the Pennsylvania Public Utility Commission, which could boost its full-year revenue by 32%, further solidifying its market position in the water utility sector.
See More
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- Stable Revenue Source: Automatic Data Processing anticipates a revenue of $21.8 billion for the fiscal year, reflecting a 5.8% increase, which underscores its strong market position in payroll processing and tax reporting, enabling consistent dividends for shareholders.
- Dividend Growth Strength: The company has raised its per-share dividend for 51 consecutive years, with a forward-looking dividend yield of 2.6%, indicating its stable profitability and enhancing investor confidence in its long-term investment value.
- Walmart's Market Dominance: Walmart's stock price has surged 156% over the past three years, and while its current dividend yield is only 0.8%, its significant influence in the U.S. retail market and ongoing stock buyback programs create additional value for shareholders.
- Growth Potential in Water Sector: American States Water has increased its dividend for 70 consecutive years, with an average annual growth of over 8% in the past decade, and with rising water scarcity and electricity demand, its market performance is expected to continue outperforming the broader market.
See More
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- Retail Giant Advantage: Walmart (WMT) has seen its stock price rise 156% over the past three years, and while its current dividend yield is only 0.79%, its strong market presence in the U.S. and ongoing stock buyback programs provide additional value for investors.
- Utility Sector Resilience: American States Water (AWR) has raised its dividend for 70 consecutive years, with an average annual increase of over 8% in the past decade, benefiting from increased pricing power due to water scarcity and rising electricity demands, indicating strong future growth potential.
- Portfolio Diversification: These three Dividend Kings not only offer stable cash flow but also demonstrate strong market positions in their respective industries, making them suitable for investors looking to enhance wealth through dividend investments.
See More
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- Stable Dividend History: York Water has paid dividends for over 620 consecutive times since the early 1800s, establishing itself as a reliable dividend stock that attracts significant investor interest.
- Revenue Source Structure: In 2024, approximately 64% of York Water's revenue comes from residential customers, with 29% from commercial and industrial clients, demonstrating its stability and diversified revenue streams in the market.
- Regulatory Business Assurance: As a regulated utility, York Water ensures steady cash flows by filing rate increase requests with the Pennsylvania Public Utility Commission, which enhances investor confidence through its ability to maintain dividend payments.
- Competitor Analysis: While York Water boasts an impressive dividend history, American States Water stands out with a record of 71 consecutive years of dividend increases, making it a more compelling option for investors seeking reliable income streams.
See More
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- Steady Dividend Record: York Water has achieved 620 consecutive dividend payments since the early 1800s, establishing itself as a reliable dividend stock that attracts significant investor interest, reflecting its robust operational capabilities in the water utility sector.
- Diverse Revenue Sources: In 2024, residential customers accounted for approximately 64% of York Water's total revenue, while commercial and industrial customers contributed 29%, ensuring stable cash flows for the company across varying market conditions.
- Regulatory Environment Assurance: As a regulated utility, York Water secures a guaranteed rate of return on its operations by filing rate increase requests with the Pennsylvania Public Utility Commission, which underpins its ability to maintain consistent dividend payments.
- Competitor Analysis: While York Water boasts a long dividend history, American States Water stands out with a 71-year streak of increasing dividends and a higher total return, indicating a shift in market preference towards different water utility stocks.
See More
AWK Expands Its Operations by Acquiring Yerba Buena Water Company
California American Water Acquisition: California American Water, a unit of American Water Works, acquired Yerba Buena Water Company, adding nearly 250 customers and marking its ninth acquisition since 2020, which has collectively added 13,000 new customers.
Infrastructure Investment Needs: The U.S. water industry faces significant infrastructure challenges, with the EPA estimating a need for $1.25 trillion in investments over the next 20 years to maintain and upgrade water systems, as many pipelines are aging and nearing the end of their service life.
Other Companies' Investments: Essential Utilities plans to invest $7.8 billion from 2025 to 2029 for infrastructure upgrades, while American States Water Company aims to invest $180-$210 million in 2025, and Middlesex Water Company plans to invest $387 million from 2025 to 2027 for various improvements.
Stock Performance and Rankings: American Water Works shares have risen 3.0% year-to-date, lagging behind the industry growth of 14.3%, and currently holds a Zacks Rank #3 (Hold).
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