American Wtr Wks Co Inc - AWK STOCK NEWS

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.

American Water Charitable Foundation, a 501(c)(3) organization by American Water, awarded $1 million to 59 organizations in 11 states through the 2024 Water and Environment Grant Program. The grant focuses on water, people, and communities, supporting ESG, diversity, and inclusion. Recipients will benefit communities served by American Water, promoting water quality and conservation.

Pennsylvania American Water has launched an interactive web-based map to help customers identify and report the material of their water service lines. The map is in response to EPA requirements to publicize lead service line locations by 2024 and aims to raise awareness about lead service lines. The company is committed to replacing lead service lines at no cost to customers and has already replaced 855 lines last year, with plans to double the number by 2024.

Virginia American Water has finalized the acquisition of the Town of Cape Charles water and wastewater systems for $15 million, bringing approximately 1,400 customers to the company. They plan to invest over $10 million in system improvements over the next eight years, with a focus on enhancing water quality. The acquisition was made possible under the Fair Market Value Legislation enacted by the Virginia General Assembly in 2020. The Town of Cape Charles residents will benefit from Virginia American Water's expertise and high-quality service, as well as the transition of utility employees to the company.