Atmos Energy Raises Quarterly Dividend to 1 Dollar Per Share

Atmos Energy increased its quarterly dividend payout from $0.87 to $1 per share, marking a nearly 15 percent increase and extending its dividend growth streak to 42 consecutive years.

For the June quarter, the gas utility reported revenue growth of 4.8 percent and earnings per share growth of 12.8 percent. This performance is largely attributed to the regulatory environment in Texas, the company's largest market, which permits rapid price increases.

Despite recent double-digit earnings growth, management provided future guidance projecting earnings per share growth between 6 percent and 8 percent. The company currently trades at approximately 18 times forward earnings with a forward payout ratio of just under 45 percent.