American Water Works Company, Inc - AWK STOCK NEWS

American Water Works Company, Inc. (NYSE: AWK) has declared a quarterly cash dividend of 55 cents per share, payable on December 2, 2020, to shareholders on record as of November 10, 2020. Additionally, the company offers a dividend reinvestment and direct stock purchase plan, allowing shareholders to reinvest dividends without broker fees. As the largest U.S. publicly traded water utility, American Water serves 15 million people across 46 states, ensuring the provision of safe and reliable water services.

New Jersey American Water has successfully acquired the sewer assets of Long Hill Township for $12.7 million, serving approximately 2,800 customers. The acquisition, approved by the New Jersey Board of Public Utilities on May 20, 2020, aligns with the company's long-standing service in water supply for over 110 years. The deal includes a commitment to invest more than $13 million in sewer improvements over the next five years, enhancing infrastructure and minimizing disruption during upgrades. This sale is projected to relieve Long Hill Township of over $1 million in annual debt.

American Water Works Company (NYSE: AWK) plans to release its 2020 third quarter financial results after market close on November 4, 2020. This will be followed by a conference call on November 5, 2020, at 9 a.m. EST, hosted by CEO Walter Lynch and CFO Susan Hardwick. The call will include a question and answer session. Investors can listen to the audio webcast on the company’s Investor Relations homepage. An audio archive of the call will be accessible until November 12, 2020.

Pennsylvania American Water, a subsidiary of American Water (NYSE: AWK), has announced that its president, Mike Doran, has joined the board of directors of Pittsburgh Works Together, a coalition focused on economic development and a sustainable environment in Pittsburgh. Doran’s involvement aims to enhance infrastructure investment in the region, benefiting approximately 550,000 residents served by the utility. The company employs around 650 unionized workers, underscoring its commitment to labor relations and community welfare.

New Jersey American Water announces the launch of The Flow of H2O, a three-part educational video series, in conjunction with the sixth annual Imagine a Day Without Water. This initiative aims to educate viewers on the impacts of pollution and the water treatment processes. The videos are free and accessible to educators and parents on YouTube. In light of COVID-19, traditional outreach has shifted to virtual formats, emphasizing the company's commitment to education and environmental stewardship.

American Water (NYSE: AWK) has donated 40 laptops to Computer Smiles, a nonprofit in Camden, New Jersey, aimed at improving technology access for vulnerable populations. This continues their partnership, started in late 2018, which has seen over 170 computers donated for refurbishment. The initiative highlights American Water's commitment to supporting the community during challenging times, particularly in fostering educational opportunities for youth and aiding individuals entering college.

New Jersey American Water has successfully completed its lead and copper sampling for 2020, with all 13 tested water systems meeting state water quality regulations. The tests conducted from June to September indicate compliance with safe drinking water standards. The company, which tests another 19 systems every three years, reported that all results showed adherence to safety guidelines. New Jersey American Water continues to invest approximately $350 million annually in infrastructure upgrades to ensure reliable water service. Customers can view water quality reports online.

New Jersey American Water President Cheryl Norton announced the extension of the utility service shutoff moratorium due to nonpayment, effective through March 15, 2021. This initiative, in collaboration with Governor Murphy and the Board of Public Utilities, aims to support residents impacted by COVID-19. Customers experiencing financial difficulty are encouraged to explore payment plans or assistance options, including the expanded H2O Help to Others program. New Jersey American Water serves approximately 2.8 million people, highlighting its commitment to reliable water services.

Pennsylvania American Water, a subsidiary of American Water (NYSE: AWK), has acquired the wastewater assets of the Borough of Kane Authority for approximately $17.5 million. Serving nearly 2,100 customers, this acquisition marks a significant expansion of Pennsylvania American Water's wastewater operations in an area where it has provided drinking water for over a century. The move will alleviate the borough's wastewater debt, fully fund its pension plans, and enhance capital projects. This represents the company's fifth municipal acquisition under Pennsylvania’s Act 12, facilitating fair market value sales for water systems.