UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 30, 2018
UNITIL CORPORATION
(Exact name of registrant as specified in its charter)
| New Hampshire | 1-8858 | 02-0381573 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) | ||
| 6 Liberty Lane West, Hampton, New Hampshire | 03842-1720 | |||
| (Address of principal executive offices) | (Zip Code) | |||
Registrant’s telephone number, including area code: (603) 772-0775
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 7.01 | Regulation FD Disclosure |
At its January 30, 2018 meeting, the Unitil Corporation (the “Registrant”) Board of Directors declared a quarterly dividend on the Company’s common stock of $0.365 per share, payable February 28, 2018, to shareholders of record on February 14, 2018, an increase of $0.005 per share on a quarterly basis, resulting in an increase in the effective annualized dividend rate to $1.46 per share from $1.44 per share. A copy of the Registrant’s press release issued regarding this matter is included herein as Exhibit 99.1 and incorporated herein by reference.
The information furnished under Item 7.01 of this Current Report, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.
| Item 8.01 | Other Events |
At its January 30, 2018 meeting, the Board of Directors of the Registrant declared a quarterly dividend on the Company’s common stock of $0.365 per share, payable February 28, 2018, to shareholders of record on February 14, 2018, an increase of $0.005 per share on a quarterly basis, resulting in an increase in the effective annualized dividend rate to $1.46 per share from $1.44 per share.
| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits
| Number |
Exhibit | |
| 99.1 | Press release dated January 30, 2018. | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| UNITIL CORPORATION | ||
| By: | /s/ Mark H. Collin | |
| Mark H. Collin | ||
| Senior Vice President, Chief Financial Officer and Treasurer | ||
| Date: | February 2, 2018 | |
Exhibit 99.1
FOR RELEASE
UNITIL INCREASES ANNUAL COMMON STOCK DIVIDEND BY $0.02 PER SHARE
HAMPTON, NH, January 30, 2018: Unitil Corporation (NYSE:UTL) (www.unitil.com) today announced that its Board of Directors raised the quarterly dividend on the Company’s common stock to $0.365 per share, increasing the effective annual dividend rate by $0.02 to $1.46 per share. The Board declared the first quarter common stock dividend of $0.365 per share, payable February 28, 2018, to shareholders of record on February 14, 2018.
“We understand the importance of the dividend to our shareholders. Today we are pleased to report that once again we’ve increased our quarterly dividend rate. This reflects the continued confidence we have in our growth plan,” said Robert G. Schoenberger, Unitil’s chairman, president, and chief executive officer.
Unitil has an unbroken record of continuously paying quarterly cash dividends and has never decreased the dividend on its common stock.
About Unitil Corporation
Unitil Corporation provides energy for life by safely and reliably delivering natural gas and electricity in New England. We are committed to the communities we serve and to developing people, business practices, and technologies that lead to the delivery of dependable, more efficient energy. Unitil Corporation is a public utility holding company with operations in Maine, New Hampshire and Massachusetts. Together, Unitil’s operating utilities serve approximately 105,000 electric customers and 81,300 natural gas customers. Other subsidiaries include Usource, Unitil’s non-regulated business segment. For more information about our people, technologies, and community involvement please visit www.unitil.com.
For more information please contact:
David Chong – Investor Relations
Phone: 603-773-6499
Email: chong@unitil.com
Alec O’Meara – Media Relations
Phone: 603-773-6404
Email: omeara@unitil.com
6 Liberty Lane West
Hampton, NH 03842
T 603.772.0775
www.unitil.com