American Water Works Company, Inc - AWK STOCK NEWS

Illinois American Water recognized seven organizations in partnership with the American Water Charitable Foundation, awarding Water and Environment grants to support environmental stewardship and water conservation initiatives in communities served by Illinois American Water. These grants are part of the Keep Communities Flowing Grant Program, emphasizing Water, People, and Communities pillars. Recipients include Ducks Unlimited, Foundation for Ohio River Education, Lewis and Clark Community College Foundation, Nature at the Confluence, Peoria Park District, Streator Township High School Foundation, and University of Illinois. The grants will fund projects such as flooding and restoration, clean-up efforts, water resource education, and community clean-up initiatives.

American Water, the largest regulated water and wastewater utility company in the U.S., released its annual Camden Community Investment Report for 2023, showcasing its commitment to the Camden, NJ community. The company donated over $1.5 million to various organizations in the city, supporting economic development, housing, education, and environmental initiatives. American Water employees also dedicated over 500 volunteer hours to community projects and events, reinforcing their impact on Camden residents and stakeholders.

New Jersey American Water proudly recognizes the American Water Charitable Foundation for awarding $108,277 in Water and Environment grants to seven nonprofit organizations in New Jersey. The grants support environmental projects that aim to improve, restore, and protect water resources in local communities. The recipients include organizations working on water quality monitoring, community education, surface water quality reporting, watershed preservation, and volunteer conservation programs. These grants align with the Foundation's focus on supporting initiatives related to clean water, conservation, environmental education, climate variability, and water-based recreation.

Pennsylvania American Water, a subsidiary of American Water, awarded $267,580 in Water and Environment grants to 15 nonprofit organizations in Pennsylvania. The grants support projects focusing on clean water, conservation, education, and community engagement.

Iowa American Water filed a rate request with the Iowa Utilities Board for over $157 million in water and wastewater system improvements from 2021 to 2026 to enhance service quality. The company aims to invest in infrastructure, water quality, environmental compliance, and customer needs. They also plan to address affordability through a Customer Affordability Program.

Virginia American Water has implemented interim water and wastewater rates for customers in the state following a rate application filed with the SCC, requesting an increase of $19.7 million driven by infrastructure investments. The company will issue bill credits if final rates are lower. Consolidated rates are proposed to stabilize costs, and a new affordability tariff for eligible households is being introduced.

Tennessee American Water has filed a petition with the Tennessee Public Utility Commission (TPUC) for rate adjustment, seeking approval for increased rates to cover $173 million in water system investments made from 2012 to 2025. The company aims to provide clean, safe, and reliable water service through investments in infrastructure improvements, water quality enhancements, and environmental compliance. This move reflects the company's commitment to long-term investment for high-quality service delivery.

American Water Works Company, Inc. (NYSE: AWK) reported solid first quarter 2024 results with earnings of $0.95 per share, compared to $0.91 per share in 2023. The company affirmed its 2024 EPS guidance range of $5.20 to $5.30 and long-term growth targets. Additionally, they announced a quarterly cash dividend increase and completed a $1.4 billion financing.

American Water Works Company, Inc. (NYSE: AWK) has announced an 8.1% increase in its quarterly cash dividend payment to $0.7650 per share of common stock. The company plans to sustain a dividend growth between 7 to 9 percent long term, with a target payout ratio of 55 to 60 percent of earnings. The increased dividend will be payable on June 3, 2024, to shareholders of record as of May 14, 2024.