American Water Works Company, Inc - AWK STOCK NEWS

American Water (NYSE: AWK) has been recognized as the 2020 National Corporation of the Year by the Eastern Minority Supplier Development Council (EMSDC) for its commitment to supplier diversity and engagement with minority-owned businesses. The award was presented during the EMSDC's 2020 Choice Awards virtual event on December 11. American Water emphasizes building long-term partnerships with diverse suppliers, fostering economic growth within communities. Additionally, Sharon Manker received the Emmett T. Vaughn Corporate Advocate of the Year Award for her leadership in supporting diverse businesses.

Illinois American Water has acquired the Four Lakes Village Condominium Homeowners Association's water distribution system for $900,000. This acquisition adds 57 connections serving approximately 1,300 households in Lisle, Illinois, to its Chicago Metro area service. The Illinois Commerce Commission approved the sale, marking a strategic expansion for Illinois American Water. The company plans to enhance the system with Advanced Metering Infrastructure to improve service and billing accuracy, allowing quicker leak detection and personalized customer experiences.

American Water Works Company (NYSE: AWK) announced a quarterly dividend of 55 cents per share, payable on March 2, 2021, to shareholders on record as of February 8, 2021. This dividend demonstrates the company's continued commitment to returning value to its shareholders. Additionally, American Water provides a dividend reinvestment plan, allowing investors to reinvest dividends and purchase shares without brokerage fees. The company, serving 15 million people across 46 states, emphasizes its reliability in providing safe and affordable water services.

American Water (NYSE: AWK) announced that CEO Walter Lynch will speak at the Bank of America 2020 Water Conference on December 10. In his presentation titled “The State of the Water Industry”, he will address challenges such as infrastructure, water quality, and the impacts of COVID-19. Lynch will also highlight opportunities for sustainability and detail how American Water is committed to enhancing customer service through investments in technology and infrastructure. The company provides water services to 15 million people across 46 states.

Pennsylvania American Water, a subsidiary of American Water (NYSE: AWK), will acquire the wastewater collection system assets of Brentwood Borough for approximately $19 million. This decision follows the Brentwood Borough Council's vote in favor of the bid. The acquisition includes about 38 miles of sewer mains serving approximately 4,100 customers. Approval from the Pennsylvania Public Utility Commission and other agencies is required. Pennsylvania American Water assures customers of long-term rate stability, promising no rate increases within two years post-acquisition.

Illinois American Water reminds customers to prevent water damage from frozen and burst pipes as colder weather approaches. Homeowners are advised to check and drain irrigation systems, identify freezing points in their homes, and ensure they know the location of the main water shut-off valve. To prevent freezing, a trickle of water should be allowed to run overnight. If pipes freeze, customers should turn off the water and apply heat safely to thaw them. The company serves approximately 1.3 million people, offering essential water and wastewater services.

California American Water is launching its 30th annual “Operation Gobble” program, collaborating with state legislators to donate to local non-profits. The company will provide donations to underprivileged families and foodbanks, adapting to ensure safety during the pandemic. This initiative aims to assist communities significantly impacted by job losses and food insecurity, serving over 680,000 customers across California. The program emphasizes the importance of community support during challenging times, marking a shift in approach to meet current health protocols.

American Water Resources (AWR) has expanded its home warranty offerings for Philadelphia homeowners through a renewed partnership with the Philadelphia Energy Authority (PEA). New coverage options include plans for electric and gas lines, plumbing clogs, and water heater repairs, with combined monthly rates starting at $11.98. AWR's initiatives have earned a 92% customer satisfaction rating, providing essential protection as Philadelphia's aging infrastructure poses increased risks. Over 70% of work has gone to minority contractors, enhancing local economic opportunities.