American States Water Company Announces Regular Common Dividends

Rhea-AI Summary

On October 27, 2020, American States Water Company (NYSE:AWR) announced a quarterly dividend of $0.335 per share, marking its 338th consecutive payment. The company has increased dividends annually for 66 years, showcasing its stability and commitment to shareholders. The recent dividend payments reflect a 9.4% compound annual growth rate from 2010–2020, with increases of 9.8% in 2020, 10.9% in 2019, and 7.8% in 2018. The dividend will be payable on December 1, 2020, to record shareholders by November 16, 2020.

Positive

• 338 consecutive quarterly dividends paid.
• 66 years of annual dividend increases.
• 9.4% CAGR in annual dividend payments from 2010–2020.
• 9.8% dividend increase in 2020.

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• None.

SAN DIMAS, Calif.--(BUSINESS WIRE)--On October 27, 2020, the Board of Directors of American States Water Company (NYSE:AWR) approved a quarterly dividend of $0.335 per share on the Common Shares of the company. This action marks the 338^th consecutive dividend payment by the company. For 66 consecutive years, American States Water Company shareholders have received an increase in their calendar year dividend, which places it in an exclusive group of companies on the New York Stock Exchange that have achieved that result. The company’s current policy is to achieve a compound annual growth rate in the dividend of more than 7% over the long-term. The most recent dividend increases include a 9.8% increase earlier this year, a 10.9% increase in 2019 and 7.8% in 2018. The company has achieved a 9.4% compound annual growth rate in its annual dividend payment from 2010–2020.

Dividends on the Common Shares will be payable on December 1, 2020 to shareholders of record at the close of business on November 16, 2020.

About American States Water Company

American States Water Company is the parent of Golden State Water Company, Bear Valley Electric Service, Inc. and American States Utility Services, Inc., serving over one million people in nine states. Through its water utility subsidiary, Golden State Water Company, the company provides water service to approximately 261,500 customer connections located within more than 80 communities in Northern, Coastal and Southern California. Through its electric utility subsidiary, Bear Valley Electric Service, Inc., the company distributes electricity to approximately 24,500 customer connections in the City of Big Bear Lake and surrounding areas in San Bernardino County, California. Through its contracted services subsidiary, American States Utility Services, Inc., the company provides operations, maintenance and construction management services for water distribution and wastewater collection and treatment facilities located on eleven military bases throughout the country under 50-year privatization contracts with the U.S. government.

American States Water Company has paid dividends to shareholders every year since 1931, increasing the dividends received by shareholders each calendar year since 1954.