American States Water has raised its dividend for 71 consecutive years, with a five-year compound annual growth rate of 8.5%, supported by a sub-60% payout ratio and a legally protected water monopoly. The company's shares have returned 15.46% year-to-date, outpacing the utility sector ETF XLU by nearly six percentage points, driven by a compounding $1.67 billion rate base and 50-year military base contracts. Nine directors made a coordinated share purchase at $75.92 in May 2026, while a completed $200 million equity offering removes dilution risk through 2029. The annual dividend stands at $2.016 per share, yielding 2.57%, with the most recent increase of 8.3% in July 2025. The dividend is rated very safe, though risks include a potentially hostile regulatory posture in the 2028–2030 rate cycle and wildfire liabilities at Bear Valley Electric.
American States Water CompanyArticle highlights 71-year dividend streak, rate base growth, insider buying, and completed equity offering, all positive for the stock.
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