Xylem hikes dividend by 7.1%

Xylem (XYL) will raise its quarterly dividend by 7.1 percent to 30 cents per share in 2022. This follows a dividend hike of 7.7 percent to $0.28 per share in 2021 by the water technology company and marks the 10th consecutive year of dividend increases.

The new dividend yield for XYL is 1.4% based on a stock price of $82. The next XYL dividend is payable on March 17, 2022, to shareholders of record as of February 17, 2022. The next ex-dividend date for XYL will be May 25, 2022. Xylem now pays shareholders an estimated $216 million in dividends annually. 

Xylem Inc. is water technology company. Xylem’s products and services move, treat, analyze, monitor and return water to the environment in public utility, industrial, residential and commercial building services settings. Xylem also provides a portfolio of smart metering, network technologies and advanced infrastructure analytics solutions for water, electric and gas utilities. The company's brands include Flygt, Wedeco, Godwin, Lowara, Flojet and Flowtronex. The name Xylem is derived from classical Greek and is the tissue that transports water in plants.