3.57% Dividend Yield, 11 Years of Dividend Hikes – The Utility Powering New England with Stable Income
A network of innovation, resilience, and regional influence
Across New England, a sprawling utility network delivers electricity and natural gas to thousands of homes and businesses, blending century-old infrastructure with modern technology. This company operates multiple distribution grids, employs thousands, and supports regional economies through critical energy supply. Its assets span advanced metering, automated grid management, and strategic partnerships, all while expanding through acquisitions that add tens of thousands of new customers each year. Regulatory oversight ensures reliable service, but it’s innovation in grid reliability and cost control that sets this utility apart in a competitive sector.
Unitil (UTL)
Financial Score: 86 / 99
Quick Tip
To keep your portfolio strong, stay on top of the financials for each company you hold. Solid companies mean better returns, so be sure to check in on their quarterly and annual numbers.Interesting stocks usually score 80+ on the Financial Scale, with top players hitting 90+. If that score dips below 80, it might be a good time to consider cutting ties before things take a turn.Unitil provides electricity and natural gas to over 109,400 electric and 89,100 gas customers in New Hampshire, Massachusetts, and Maine. The company traces its roots to 1883, making it one of the oldest utilities in New England. Unitil’s regulated business model generates predictable cash flows, supporting a strong balance sheet and a reputation for operational excellence. Its operations cover 85 miles of interstate underground natural gas transmission pipeline, providing interstate access and transportation services primarily in Maine and New Hampshire. The company also operates real estate management services and maintains a commitment to infrastructure modernization and sustainability.
Dividend foundation and resilient cash flows
The annual dividend is $1.80 per share, yielding 3.57%, with a payout ratio near 62.28%. Unitil has increased its dividend for 11 consecutive years, growing payouts by 15% over the past five years. This streak is underpinned by robust cash flow from regulated operations, a strong balance sheet, and a commitment to shareholder returns. The company’s dividend is supported by predictable earnings and ongoing capital investments.
Q3 2025 operational highlights
For the third quarter of 2025, Unitil reported total operating revenue of $101.1 million and a GAAP net loss of $0.3 million, or EPS of ($0.02). Adjusted net income was $0.4 million, or EPS of $0.03, after excluding acquisition-related costs. For the nine months ended September 30, 2025, GAAP net income was $31.2 million, or $1.89 in EPS, and adjusted net income was $33.5 million, or $2.03 in EPS. The increase in revenue was driven by higher rates and customer growth of $17.1 million, favorable effects of colder winter weather in 2025 of $2.0 million, and higher distribution rates.
Growth driven by infrastructure and strategic acquisitions
Unitil’s growth is fueled by a $187 million capital program in 2025, covering grid upgrades, advanced metering, and compliance projects. The company recently acquired Fitchburg Gas and Electric, adding 15,100 new customers and expanding its service area. Unitil projects an 8–10% total shareholder return driven by recent gas and water utility acquisitions and targets 5–7% annual EPS and dividend growth. The rate base expansion is set to reach $1.4 billion by 2029, a 19% increase from the prior plan, driven by acquisitions in Maine Natural Gas, Bangor, and Aquarion. The Kingston, NH solar facility is operational and producing as modeled, with rate recovery expected in 2026.
Fun Fact – A legacy spanning more than a century
Unitil’s roots go back to 1883, making it one of the oldest utilities in New England. The company’s acquisition of Fitchburg Gas and Electric in 2025 adds to its long history of growth and modernization. The 11-year streak of dividend increases is a testament to the company’s commitment to stability and shareholder returns.
Final Take
Unitil combines a high-yield, long-growing dividend with a legacy of operational excellence in regulated utilities. Its Financial Score of 86 from BeatMarket reflects solid fundamentals and prudent risk management, though not top-tier bulletproof status. The company’s strengths are its enduring dividend record, robust cash flow, and disciplined infrastructure spending. For investors seeking reliable income with a touch of historical resilience, Unitil offers a proven track record of steady payouts and steady growth, with some regulatory and capital intensity risks to monitor.
Someone’s sitting in the shade today because someone planted a tree a long time ago. ― Warren Buffett.
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