Is American Water Works (AWK) a Buy?

Water utility American Water Works (NYSE: AWK)paid a quarterly dividend of $0.20 per share at the time of its IPO in 2008. The next distribution to shareholders -- almost 10 years later -- will weigh in at a hefty $0.455 per share. That works out to a dividend yield of 8.7% for investors lucky enough to have staked a position in the company at the time of its market debut.