The Company Has Increased Its Dividend Every Year Since 1954
SAN DIMAS, Calif.--(BUSINESS WIRE)--Aug. 2, 2017--
On August 1, 2017, the Board of Directors of American States Water
Company (NYSE: AWR) approved an increase in AWR’s third quarter cash
dividend from $0.242 to $0.255 per share on the common shares of the
company. The annualized dividend rate after this increase is $1.02 per
share, which represents a 5.4% increase from the current annualized
dividend rate of $0.968 per share. This action marks the 325th
consecutive dividend payment by the company. For 63 consecutive years,
American States Water Company shareholders have received an increase in
their aggregate annual dividend.
“This dividend increase reflects our Board’s confidence in the company’s
strategy and future prospects for both our subsidiaries: Golden State
Water Company and American States Utility Services, Inc.,” said Robert
J. Sprowls, President and CEO of American States Water Company.
“Pragmatically increasing our dividend enables the company to attract
capital to fund infrastructure investments to maintain the reliability
of our utility systems for our customers. In addition, our contracted
services business has grown to be a solid contributor to consolidated
earnings and we expect it will continue to be a source of dividends for
our shareholders,” Sprowls continued.
Dividends on the common shares will be payable on September 1, 2017 to
shareholders of record at the close of business on August 15, 2017.
About American States Water Company
American States Water Company is the parent of Golden State Water
Company and American States Utility Services, Inc. Through its utility
subsidiary, Golden State Water Company, AWR provides water service to
approximately 259,000 customers located throughout 10 counties in
Northern, Coastal and Southern California. The company also distributes
electricity to approximately 24,000 customers in the City of Big Bear
and surrounding areas in San Bernardino County, California. Through its
contracted services subsidiary, American States Utility Services, Inc.,
the company provides operations, maintenance and construction management
services for water and wastewater systems located on military bases
throughout the country under 50-year privatization contracts with the
U.S. government.
American States Water Company has paid dividends to shareholders every
year since 1931, increasing the dividends received by shareholders each
calendar year since 1954.
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Source: American States Water Company
American States Water Company
Eva G. Tang
Senior Vice
President - Finance, Chief Financial Officer,
Treasurer and
Corporate Secretary
(909) 394-3600, extension 707