American Water Works Company, Inc - AWK STOCK NEWS

Indiana American Water has acquired the River’s Edge water and wastewater systems in southeast Indiana for $420,000. This acquisition adds approximately 100 water and 80 wastewater customers, serving nearly 300 residents. The company aims to stabilize rates for customers through access to professional management and enhanced service options. This transaction is the third wastewater system purchase in three years, supporting Indiana American Water's strategy to expand its operations across the state, serving over 1.32 million residents overall.

Missouri American Water is set to replace 1,700 feet of outdated water main in St. Joseph, starting next week. This six-week project aims to enhance water pressure and service reliability for 1.5 million customers while providing better fire protection. The upgrades will occur along Blackwell Road and Cronkite Road, involving traffic detours. The project reflects the company's commitment to improving infrastructure and minimizing service interruptions. Operations manager Jody Carlson emphasized the importance of investing in repairs to maintain quality service.

Missouri American Water is now accepting applications for its 2020 Firefighter Grant Program until August 30, 2021. Grants up to $1,200 will be awarded to fire and emergency organizations within its service areas to fund essential firefighting tools, personal protective gear, and training. Debbie Dewey, president of Missouri American Water, emphasizes the program's role in enhancing community safety. Eligible departments must be uniformed professional or volunteer fire services serving the utility's territory and can apply for one grant annually.

Pennsylvania American Water emphasizes the importance of hydration as temperatures soar into the 90s this week. The company shares vital hydration tips to prevent dehydration, including drinking water before feeling thirsty and maintaining hydration even indoors. With a focus on safety, Pennsylvania American Water aims to educate customers about the risks of dehydration, particularly for those working outdoors. The utility serves approximately 2.4 million people, underscoring its commitment to providing reliable and high-quality water services.

American Water Works Company (NYSE: AWK) reported Q2 2021 earnings of $1.14 per share, up 17.5% from $0.97 in 2020. The first half of 2021 saw investments of $782 million, primarily for infrastructure improvements. With strong performance in Regulated Businesses, net income rose to $215 million, driven by authorized revenues and increased demand. However, lower results in the Homeowner Services Group impacted overall performance. The company declared a quarterly dividend of $0.6025 per share and maintains a 2021 EPS guidance of $4.18 to $4.28.

Illinois American Water is investing over $8 million in Champaign County to upgrade its water and wastewater systems. Key projects involve replacing more than 24,000 feet of water mains and approximately 7,000 feet of sewer main lining. These upgrades aim to enhance water flow, pressure, and service reliability, addressing the community's growth needs. Since acquiring the Village of Fisher's systems in 2018, Illinois American Water has committed to investing $2.9 million over five years for improvements. Customer communication during construction is prioritized to minimize inconvenience.

American Water Works Company (NYSE: AWK) has declared a quarterly cash dividend of $0.6025 per share, payable on September 1, 2021, to shareholders of record as of August 10, 2021. This dividend continues the increase in the annualized dividend approved by the Board in April 2021. The company also offers a dividend reinvestment and direct stock purchase plan, enabling shareholders to reinvest dividends without brokerage fees. For more details, investors can contact American Stock Transfer & Trust Company or visit their Investor Relations webpage.

California American Water has commenced construction on a new well in Dunnigan, California, representing a significant upgrade to the water system. The company is investing approximately $1 million to enhance the reliability of water services, ensuring a redundant supply for drinking and fire protection. This new well will replace an offline well due to water quality issues since the 2015 acquisition. With over $3 million invested in local water quality improvements, the project is expected to be completed by the first quarter of 2022.