This Boring Company Has Hiked Its Dividend for 71 Straight Years, and It's an Income Investor's Dream

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Steady Income Kings: Lessons from a 71-Year Dividend Streak

American States Water offers a rare example of consistent income growth worth noting alongside JSE dividend plays.

American States Water’s 71-year streak of raising dividends is extraordinary—and it’s a compelling reminder for South African investors about the power of stability. While AWR’s regulated business model ensures predictable cash flows and a modest payout ratio, South African utilities like Exxaro or Telkom don't quite mirror that consistency. Still, on the JSE, dividend champions like Sanlam and FirstRand have shown resilience, particularly during volatile markets. The rand’s swings against the dollar (USD/ZAR) expose local income investors to currency risk that AWR doesn’t face. For South African investors focused on income, diversifying beyond banks and mining into sectors with reliable net income will be key. The risk? Rising interest rates or regulatory shifts could pressure payout capacity even in stable utilities here. Watch how the local interest rate cycle shapes income stocks before getting too heavy-handed. this is just our opinion and not financial advice