American Water Works Company, Inc - AWK STOCK NEWS

Missouri American Water recently donated $2,500 to The Little Bit Foundation, aiming to support families facing food insecurity amid COVID-19. Debbie Dewey, the company's president, emphasized their commitment to assist those affected by school closures. The Little Bit Foundation's Feeding Hope program has delivered nearly 400,000 meals since March 2020, addressing the crucial need for food among under-resourced students and families. The initiative highlights Missouri American Water's dedication to the community and the importance of providing essential support during challenging times.

American Water Works Company (NYSE: AWK) reported Q1 2021 earnings of $0.73 per share, up from $0.68 in Q1 2020. Net income for Regulated Businesses rose to $135 million, driven by infrastructure investments and acquisitions. The company announced its largest municipal acquisition, adding over 45,000 customer connections from York, PA. Capital investments for the quarter were approximately $342 million, with plans to invest $1.9 billion throughout 2021. However, Market-Based Businesses saw a decline in net income to $17 million due to increased claims from extreme weather.

New Jersey American Water has announced the recipients of its 2021 Environmental Grant Program, allocating $38,241 to four organizations focused on sustainability projects aimed at improving water source protection. These include Camden's Promise Charter School, the City of Summit's Environmental Commission, Jefferson School, and Monmouth Museum. Since its inception in 2008, the program has funded over $391,000 across 47 projects. This initiative underscores the company's commitment to environmental stewardship, as stated by Matthew Csik, Director of Water Quality and Environmental Compliance.

Missouri American Water will replace over 7,940 feet of water main in Bel-Ridge, starting from May 3 through August 2021. This project aims to enhance the water system in St. Louis County, resulting in improved water pressure for residents and fire hydrants. Construction will affect eight streets, with work hours from 7 a.m. to 5 p.m., Monday to Friday. Motorists are advised to exercise caution in the construction zones. Updates will be provided to customers through various communication methods. Missouri American Water serves approximately 1.5 million people.

West Virginia American Water has requested a rate adjustment from the Public Service Commission of West Virginia to cover $252 million in infrastructure investments, which include replacing over 48 miles of aging pipelines. If approved, average residential water customers will see a monthly increase of $11.26, while sewer bills would rise from $54.14 to $71.84. The proposed rate adjustments aim to ensure water quality and service reliability for over 545,000 residents. The PSC's decision on this request is expected by February 25, 2022.

American Water Works Company (NYSE: AWK) has increased its quarterly cash dividend from $0.55 to $0.6025 per share, reflecting a continued commitment to dividend growth. This increase aligns with the company's historical practice, showcasing a 10% CAGR over the past five years. The new dividend, payable on June 1, 2021, to shareholders of record as of May 11, 2021, demonstrates the company's confidence in its long-term strategies while targeting a payout ratio of 50% to 60% of earnings. Shareholders can also benefit from the dividend reinvestment plan.

New Jersey American Water has received an Environmental Award from the Commerce and Industry Association of New Jersey for its innovative approach to treating PFAS using Strong Base Anion Exchange (AIX) technology at its Short Hills Station. This technology, which minimizes waste, was fast-tracked for installation to comply with new state regulations. Additionally, the company received the Governor’s Environmental Excellence Award in December 2020 and the Leading Infrastructure Award in February 2021 for similar initiatives, showcasing its commitment to sustainability and safe drinking water.

Missouri American Water is initiating a project to replace approximately 17,000 feet (3.2 miles) of water main in St. Louis County, aiming to enhance water service reliability and pressure for residents and fire protection. The project, starting April 19, 2021, will occur along N. Ballas Road and is set to span until December 2021. The construction will involve traffic adjustments, ensuring safety through careful traffic management. Continuous updates will be provided to customers via notifications and by encouraging them to update contact information through the company’s self-service portal.