RAPID CITY - Black Hills Corp . (NYSE:BKH), the South Dakota-based utility company with a market capitalization of $4.12 billion, has declared a quarterly dividend increase to $0.676 per share, up from the previous $0.

This dividend increase reflects the confidence we have in our team, strategy and long-term growth,” said Linn Evans, president and CEO of Black Hills Corp. The new annualized rate represents 55 consecutive years of annual dividend increases and is the second longest track record in the electric and natural gas utility industry.

Black Hills is increasing its quarterly dividend by 4%. The utility company on Friday said its board of directors approved a new quarterly payout to shareholders of 67.6 cents a share, up from 65 cents a share previously.