American Water Works Company, Inc - AWK STOCK NEWS

On Aug. 11, Illinois American Water emphasized the importance of calling 811 before any digging projects to prevent accidents involving underground utility lines. Every few minutes, such lines are damaged due to unreported digging. The service connects users with local utility companies to mark underground lines, ensuring safety for residents and infrastructure. Beth Matthews, VP of Operations, highlighted that even minor digging projects warrant contacting 811 to avoid injury and costly repairs. Illinois American Water serves approximately 1.3 million people in the state.

Pennsylvania American Water announced a donation of $19,470 to the Chesapeake Bay Foundation as part of a paperless billing campaign. During April, the utility donated $10 for each of the 1,947 customers who switched to e-billing, resulting in funding for the planting of trees in Pennsylvania. The initiative not only promotes environmental sustainability but also encourages customers to reduce their paper usage. This partnership with the Chesapeake Bay Foundation aims to enhance local ecosystems and air quality.

Missouri American Water has completed its acquisition of the City of Eureka's water and wastewater systems, serving about 4,000 customers each. The $28 million deal, supported by a 2020 ballot measure, allows Eureka to reinvest proceeds into the community. Construction of a new five-mile water pipeline from St. Louis County is set to begin, enhancing water quality from the Missouri River. Missouri American Water plans to invest over $37 million in system upgrades over the next decade, ensuring regulatory compliance and improved service.

Missouri American Water is accepting applications until August 31, 2022, for its Annual Firefighter Grant Program, providing up to $1,200 in financial support to fire protection organizations within its service areas. Last year, over $43,000 was awarded to 37 organizations statewide. This program aims to enhance firefighting capabilities by funding tools, protective gear, and training. Eligible organizations include professional and volunteer fire departments within Missouri American Water's service territory.

American Water Works Company (NYSE: AWK) reported Q2 2022 diluted earnings of $1.20 per share, up from $1.14 in Q2 2021. Year-to-date earnings reached $2.07 per share compared to $1.87 in 2021. The company has affirmed its 2022 earnings guidance of $4.39 to $4.49 per share and plans to invest approximately $2.5 billion this year, with $1.25 billion already invested in infrastructure improvements. Additionally, the recent acquisition of York’s wastewater system added over 45,000 customer connections.

West Virginia American Water, a subsidiary of American Water, has signed a $30 million agreement to acquire the water and wastewater assets of Jefferson Utilities and related services. This acquisition will enhance service to nearly 4,000 customers in Jefferson, Berkeley, and Morgan counties. The deal is pending approval from the Public Service Commission of West Virginia and is expected to close by the end of 2022. Jefferson Utilities’ customers will transition to rates set by West Virginia American Water, ensuring continued service quality and local customer support.

American Water Works (NYSE: AWK) has declared a quarterly cash dividend of $0.6550 per share, payable on September 1, 2022. This dividend remains consistent with the previous quarter, reflecting the company's commitment to shareholder returns. Notably, this announcement marks the 14th consecutive year of increased annual dividends. Shareholders can reinvest dividends through the American Water Stock Direct plan with no brokerage fees.

Missouri American Water is set to replace three water main valves on Gene Field Road from July 25 to August 5, causing a temporary road closure. This upgrade is crucial for redirecting water flow during main breaks, ensuring minimal service interruption. In 2022, the company is also replacing nearly 10 miles of aging pipes in St. Joseph, improving system reliability and fire protection. As a subsidiary of American Water (NYSE: AWK), it serves around 1.5 million customers, emphasizing proactive investments for enhanced service.