Companhia de Saneamento Basico (ADR) (NYSE:SBS)

4.7% + Brazil infastructure

P/E is less than HALF that of AWK despite vastly superior 10-year CAGR in both share price and dividend payout. Higher yield than AWK, larger service area, much greater potential for future deployment (really, how many people in the US are without running water, vs. people in Brazil?). A great dividend play at a very attractive price that could easily sustain share growth of 10% a year on top of steady dividend appreciation.

The only real worries are from political cronyism ruining its expansion plans or profitability, as the state of Sao Paulo owns half the company, but it's a monopoly provider to one of the wealthiest areas of Brazil, and it's not limited to that state, so could expand to the rest of Brazil in the future.

I think SBS could be very valuable down the line as not only a water/wastewater provider but a water exporter to other regions from the Sao Paulo operations, but that's just a theory.