American Water Works Company, Inc - AWK STOCK NEWS

American Water has launched a new Wills for First Responders service, offering pro bono basic estate planning legal services to first responders in its service area. The inaugural event, held in Norristown, PA, benefited 30 local first responders. Pennsylvania American Water President Justin Ladner emphasized the company's commitment to supporting community organizations and individuals.

The service, conducted in collaboration with Morgan, Lewis & Bockius LLP, includes options for wills, financial power of attorney, and health care power of attorney/living will. The process involved phone interviews and document preparation, culminating in in-person meetings for review, signing, and notarization. American Water plans to expand this service to other communities in states it serves, starting from May 2024.

Pennsylvania American Water reminds customers to prioritize safety and hydration during summer. Key safety tips include:

• Drink water before feeling thirsty to avoid dehydration
• Hydrate before bed and upon waking
• Use refillable water bottles to reduce plastic waste
• Avoid trespassing or swimming in public water supply reservoirs
• Don't tamper with fire hydrants
• Maintain proper hydration indoors and outdoors

The company emphasizes the importance of these measures to ensure customer well-being during hot summer months.

American Water (NYSE: AWK), the largest publicly-traded U.S. water and wastewater utility company, announced that CEO M. Susan Hardwick and three other experts will contribute to panels at the NARUC Summer Policy Summit from July 14 to 17 in West Palm Beach, Fla. Hardwick will discuss investments for reliable and resilient water services. Christine Keck, VP of National Government and Regulatory Affairs, will address federal legislation impacting the water sector. David Bowler, Deputy CFO, will discuss capital investment strategies, while Denise Venuti Free, Senior Director of Communications, will share insights on improving public confidence in drinking water services. This event gathers state utility regulators, industry representatives, and consumer advocates to discuss regulatory policy.

Iowa American Water announced significant leadership changes this week. Randy Moore will transition from President of Iowa American Water to Vice President, Strategic Programs at American Water. Brad Nielsen, formerly Vice President of Operations at Iowa American Water, will assume the role of President. Nielsen, who joined Iowa American Water in 2019, has extensive experience in operations, having previously worked at Aramark Uniform Service for 17 years. Additionally, Laura Martin will become Iowa American Water’s new Vice President of Operations. Martin has been with American Water since 2010, most recently serving as Senior Director of Government and External Affairs at Pennsylvania American Water. These changes aim to leverage the extensive experience of the team to enhance water service operations in Iowa.

American Water Works Company (NYSE: AWK) has announced the release of its 2024 second quarter financial results, scheduled for after the market closes on July 31, 2024. A conference call and webcast will be hosted on August 1, 2024, at 9 a.m. EDT by key executives: Susan Hardwick (CEO), Cheryl Norton (COO), and John Griffith (CFO). The call will include a Q&A session and can be accessed via the Investor Relations section of the company's website. Presentation slides will be available online beforehand, and an audio replay will be accessible for one year.

Missouri American Water has filed a rate request with the Missouri Public Service Commission (MoPSC) to address $1.5 billion in water and wastewater system investments from January 2023 to May 2026. These investments aim to replace aging infrastructure, enhance water quality, and comply with environmental regulations. Key projects include replacing over 250 miles of pipes, upgrading treatment plants, and constructing new facilities in various counties. If approved, the average residential water bill could increase by $18 per month. The company's proposed rates also offer discounted options for customers facing financial hardship. The MoPSC's review process may take up to 11 months, with any new rates likely effective by mid-2025.

Principal Real Estate Income Fund (NYSE: PGZ) has announced its latest distribution sources. The distribution comprises net investment income, realized capital gains, and return of capital. The detailed breakdown indicates that a portion of the distribution is derived from each of these sources, reflecting the fund's diversified strategy. The exact percentages and financial figures are accessible through the company's official statement. Shareholders are encouraged to review the complete release for a comprehensive understanding of the distribution's composition and potential implications for their investments.

New Jersey American Water has completed the acquisition of Salem City’s water and wastewater systems for $18 million. This acquisition adds over 2,300 new water and wastewater customers, and integrates six Salem City utility employees into the company. The acquisition follows a voter referendum in November 2023, where over 60% of voters approved the sale. As part of the agreement, New Jersey American Water will invest over $50 million in infrastructure improvements over the next decade, addressing aging systems and implementing PFNA treatment. The sale also eliminates $11 million in utility debt for Salem City and contributes over $1 million annually to the city budget.

Residents will receive detailed information through mail and a dedicated webpage. The company will host a community open house on July 13. This acquisition marks New Jersey American Water’s sixth acquisition in six years, following the recent acquisition of Egg Harbor City’s systems in 2023.

Pennsylvania American Water has applied to the Pennsylvania Public Utility Commission (PUC) for approval to acquire the East Dunkard Water Authority (EDWA). The application follows a court directive and the company's recent operational takeover of EDWA. Pennsylvania American Water agreed to purchase EDWA's water system assets for $5 million in July 2023. Under court-ordered receivership, they began managing EDWA's operations on February 8, 2024, implementing substantial improvements to the water treatment plant and distribution system. These enhancements include upgrading four filter systems, optimizing plant operations, and repairing 31 leaks, saving 4 million gallons of treated water. The upgrades have significantly improved the reliability and quality of drinking water for EDWA customers.