Today, we’re highlighting a company that has been a staple in the utilities sector…
Longtime readers know that utility stocks can be great investments over the long term. These companies supply our homes with water, gas, and electricity… And they normally hold monopolies in their markets, leading to consistent profits. Today’s company is a great example…
American States Water (AWR) is a $3 billion utility provider. Through its subsidiaries, it provides more than 1 million people in nine states with water, electricity, and more. It also holds 50-year privatization contracts with the federal government, providing 11 military bases around the country with water-management services. While it’s not an explosive tech giant, this necessary business pays off for investors… In the second quarter, the company approved a 9% increase for its dividend payment in September.
As you can see in today’s chart, AWR shares are rising again after a rocky 2020. They’re up 20% over the past year… And they recently hit a fresh 52-week high. This just goes to show that providing households with basic resources can lead to solid gains…
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Source: Daily Wealth’s Market Notes