American States Water (AWR) is a utility stock that has been raising its dividend every year since 1955. They provide water and electric service mostly in California, along with some US government contracts. Because 78% of their Q1 revenue came from their regulated business, their cash flow is highly predictable. This lets them keep a conservative payout ratio, averaging 56.7% over the last 10 years. Shares are currently trading at 18x operating cash flow. It could be a decent diversification play if you are looking for something stable to balance out tech holdings.