Aqua America's Profit Up Marginally

And the company increases its quarterly dividend by 8%.
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Water utility

Aqua America's

(WTR) - Get Report

second-quarter profits rose about 1% from a year ago.

The company earned $22.4 million, or 17 cents a share, in the second quarter, compared with $22.2 million, or 17 cents a share, a year ago. Analysts polled by Thomson First Call were expecting earnings of 16 cents a share.

The company increased the quarterly dividend by 8% to 11.5 cents a share.

Second-quarter revenue rose 7% from a year ago to $131.7 million as compared to analysts' expectation of $128.3 million. Revenue growth was helped by rate increases and customer growth, the company said.

The company's stock closed Wednesday up 98 cents, or 4.6%, at $22.51.

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