Atmos Energy Company ATO announced that the board of directors has approved an 8.8% increase in the annual dividend rate. The revised quarterly dividend will be 68 cents, payable on Dec 13, 2021 to shareholders of record at the close of business on Nov 29.Atmos Energy’s new annualized dividend rate is $2.72 per share, resulting in a dividend yield of 2.87%. This marks the 38th consecutive year of increase in the annual dividend rate by the board of directors, reflecting its strong performance.Can We Expect Hikes in Coming Years?Atmos Energy aims to invest in the range of $13-$14 billion in the fiscal 2022-2026 time frame, of which more than 80% will be directed to enhance the safety of the existing operations. Strengthening of infrastructure will allow ATO to easily support the increasing demand from its expanding customer base. In fiscal 2021, Atmos Energy invested $2 billion, and replaced more than 1,100 miles of old distribution and transmission lines to enhance the reliability of its operations.More than 90% of Atmos Energy’s annual capital investments start earning returns within six months and nearly 99% in no more than 12 months. ATO gains from customer additions and constructive rate outcomes.In fiscal 2021, Atmos Energy was serving 51,000 new customers compared with fiscal 2020, which enhanced the demand for its services and boosted revenues. Atmos Energy aims to increase dividend in the range of 6-8% per year, subject to approval of the board of directors. Stable earnings and expanding customer base will allow ATO's management to continue with annual dividend hikes.Utilities’ History of Dividend PaymentsUtility companies provide essential services like electricity, water and natural gas to customers. The demand for the services provided by the utilities is generally stable. The regulated nature of operations ensures steady earnings. Consistent performance and the ability to generate cash flows allow utilities to reward shareholders with regular dividends. Utilities like National Fuel Gas NFG, Consolidated Edison, Inc. ED and The York Water Company YORW are rewarding their shareholders with dividend payments for more than 100 years without fail.The current dividend yield of National Fuel Gas, Consolidated Edison, and York Water is 3.09%, 3.98%, and 1.52%, respectively, higher than the Zacks S&P 500 composite’s 1.35%.Price MovementIn the past months, Atmos Energy’s shares have gained 2.8% against the industry’s decline of 0.1%.Image Source: Zacks Investment ResearchZacks RankAtmos Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Tech IPOs With Massive Profit Potential In the past few years, many popular platforms and like Uber and Airbnb finally made their way to the public markets. But the biggest paydays came from lesser-known names. For example, electric carmaker X Peng shot up +299.4% in just 2 months. Think of it this way… If you had put $5,000 into XPEV at its IPO in September 2020, you could have cashed out with $19,970 in November. With record amounts of cash flooding into IPOs and a record-setting stock market, this year’s lineup could be even more lucrative.See Zacks Hottest Tech IPOs Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Consolidated Edison Inc (ED): Free Stock Analysis Report The York Water Company (YORW): Free Stock Analysis Report Atmos Energy Corporation (ATO): Free Stock Analysis Report National Fuel Gas Company (NFG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research