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The board of directors of Essential Utilities today declared a quarterly cash dividend of $0.2870 per share, payable June 1, 2023, to all shareholders of record on May 12, 2023. The June 2023 dividend payment of $0.2870 per share represents a $0.0188, or 7% increase over the June 2022 dividend payment of $0.2682 per share. Essential Utilities has paid consecutive quarterly cash dividends for 78 years and has increased the dividend 32 times in the last 31 years.

In recognition of the Company's strong cash flow generation and our commitment to returning value to stockholders, on February 21, 2023, the Wingstop board of directors authorized and declared a quarterly dividend of $0.19 per share of common stock, resulting in a total dividend of approximately $5.7 million. This dividend will be paid on March 31, 2023 to stockholders of record as of March 10, 2023.

LCI Industries, which, through its wholly-owned subsidiary, Lippert Components, supplies a broad array of highly engineered components for the leading original equipment manufacturers in the recreation and transportation product markets, and the related aftermarkets of those industries, today announced that its Board of Directors approved a regular quarterly cash dividend of $1.05 per share of common stock. The dividend is payable on March 24, 2023, to stockholders of record at the close of business on March 10, 2023.

Genuine Parts announced today a 6% increase in its regular quarterly cash dividend for 2023. At its February 21, 2023 meeting, GPC's Board of Directors increased the cash dividend payable to an annual rate of $3.80 per share from $3.58 per share in 2022. The quarterly cash dividend of ninety-five cents per share is payable April 3, 2023 to shareholders of record March 3, 2023. GPC has paid a cash dividend every year since going public in 1948, and 2023 marks the 67th consecutive year of increased dividends paid to shareholders.

The SBA Communications Board of Directors announced today that it has declared a quarterly cash dividend of $0.85 per share of the Company's Class A Common Stock, an increase of approximately 20% over the dividend paid in the fourth quarter. The distribution is payable March 24, 2023 to the shareholders of record at the close of business on March 10, 2023.

For MarketNewsVideo.com, I'm Sayoko Murase.