American States Water Company Declares Consistent Dividends
American States Water Company Declares Quarterly Dividend
American States Water Company (NYSE:AWR) has recently made a significant announcement regarding its regular dividends. The Board of Directors approved a quarterly dividend of $0.4655 per share on the Common Shares. This announcement is a notable achievement, representing the 354th consecutive dividend payment made by the company. It demonstrates American States Water Company’s unwavering commitment to its shareholders.
A Legacy of Dividend Growth
This rich legacy dates back to 1931, with the company consistently paying dividends to its shareholders for over 90 years. In fact, American States Water Company has increased dividends for 70 consecutive years, positioning itself among an elite group of companies listed on the New York Stock Exchange. Such a remarkable achievement underlines the company’s resilience and commitment to shareholder value.
Impact of Compound Annual Growth Rate (CAGR)
The company's quarterly dividend rate has shown commendable growth, with a compound annual growth rate (“CAGR”) of 8.8% over the past five years. This consistent growth reflects the financial health and operational success of the company. Furthermore, American States Water Company aims to achieve an 8.0% CAGR in calendar year dividend payments over the ten-year period ending soon, reinforcing its commitment to increasing shareholder returns.
Upcoming Dividend Payment Details
The upcoming dividend will be payable on December 2 to shareholders on record as of November 15. This structured approach to dividend payments ensures that shareholders receive their returns on time, demonstrating the company's reliability.
About American States Water Company
American States Water Company stands as the parent company of several vital subsidiaries, including Golden State Water Company, Bear Valley Electric Service, Inc., and American States Utility Services, Inc. Collectively, they serve over one million consumers across ten states. The Golden State Water Company operates as the company's water utility subsidiary, providing water services to approximately 264,600 customer connections in over 80 communities across Northern, Coastal, and Southern California.
Electric Utility Operations
In conjunction with water services, Bear Valley Electric Service, Inc. acts as the subsidiary responsible for electricity distribution. This company currently distributes electricity to around 24,800 customer connections in and around the City of Big Bear Lake in San Bernardino County, California. Their services play a crucial role in ensuring that residents enjoy reliable electricity supplies.
Contracted Utility Services
Additionally, American States Utility Services, Inc. extends its operations by providing essential management services related to water distribution, wastewater collection, and treatment facilities. This subsidiary operates under long-term privatization contracts with the U.S. government, reinforcing its role in serving military bases across the nation.
Conclusion
In conclusion, American States Water Company exemplifies stability and reliability in its dividend growth and utility services. As it continues to navigate the challenges of the utility sector, the commitment to providing value to shareholders remains firm. With a promising growth trajectory and extensive service offerings, American States Water Company is a noteworthy player in its industry.
Frequently Asked Questions
What is the latest dividend amount declared by American States Water Company?
The latest quarterly dividend declared is $0.4655 per share on the Common Shares.
How long has American States Water Company been paying dividends?
American States Water Company has been paying dividends since 1931, marking over 90 years of consistent payments.
What growth rate does the company aim for in the coming years?
The company aims for a CAGR of more than 7% in dividends over the long-term.
When will the next dividend payment be made?
The next dividend payment is scheduled for December 2 for shareholders on record as of November 15.
Who are the main subsidiaries of American States Water Company?
Key subsidiaries include Golden State Water Company, Bear Valley Electric Service, Inc., and American States Utility Services, Inc.
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