American Water Works Company, Inc - AWK STOCK NEWS

Missouri American Water's 2021 Firefighter Grant Program will distribute over $43,000 to 37 fire departments and emergency responders in Missouri. Since its inception in 2016, the program has awarded more than 150 grants for essential equipment, training, and community education. The initiative aims to bridge funding gaps for local fire departments, especially amidst resource shortages. Missouri American Water collaborates with local firefighters to identify necessary water pipe investments, maintaining about 44,000 hydrants across over 200 communities.

California American Water urges customers to reduce outdoor water use as winter approaches and drought conditions persist. President Kevin Tilden emphasized the need to adjust irrigation systems, limiting watering to three days a week and avoiding water waste after rainfall. Customers are encouraged to check sprinklers for inefficiencies and use an online Water Use Calculator to monitor usage. The company serves over 880,000 Californians, focusing on high-quality water services and customer conservation efforts.

On Tuesday, 90% of Stewartsville voters approved Missouri American Water as their water and wastewater provider. This decision will integrate 714 new customers into its service, enhancing infrastructure and regulatory compliance. Missouri American Water is dedicated to improving service reliability and maintaining low long-term costs, with a history of providing safe, reliable water services to around 1.5 million Missourians. The move awaits approval from the Missouri Public Service Commission.

American Water Works Company (NYSE: AWK) reported Q3 2021 diluted earnings of $1.53 per share, up from $1.46 in 2020. Year-to-date earnings reached $3.40 per share, a $0.29 increase from 2020. Despite a $0.07 per share weather impact, results showed a 10% increase year-over-year on a weather-normalized basis. The company affirmed its 2021 EPS guidance of $4.18 to $4.28 and established 2022 guidance at $4.39 to $4.49. Long-term EPS CAGR target is set at 7-9% for 2022-2026. The sale of the Homeowner Services business for approximately $1.275 billion aims to enhance growth in regulated sectors.

American Water has announced a deal to sell its Homeowner Services Group to Apax Partners LLP for approximately $1.275 billion. The transaction includes $480 million in cash and a $720 million Seller’s Note with 7% interest over five years. An additional $75 million could be earned if milestones are met by December 31, 2023. Proceeds will strengthen its core regulated business and fund capital investments. The sale is expected to close in Q4 2021, pending regulatory approvals.

American Water Works Company (NYSE: AWK) has declared a quarterly cash dividend of $0.6025 per share, payable on December 1, 2021, to shareholders of record by November 10, 2021. This marks a continuation of the annualized dividend increase announced in April 2021. American Water also offers a dividend reinvestment and direct stock purchase plan called American Water Stock Direct, allowing shareholders to reinvest dividends and purchase additional shares without brokerage fees.