American States Water Company Announces Regular Common Dividends

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American States Water Company (NYSE:AWR) has approved a quarterly dividend of $0.43 per share on the Common Shares, marking the 350th consecutive dividend payment. Shareholders have received an increase in their calendar year dividend for 69 consecutive years, positioning the company among a select group on the NYSE. The company aims for a compound annual growth rate in the dividend of over 7% in the long-term, with a quarterly dividend rate growth of 9.4% over the past five years. Dividends will be payable on December 1, 2023, to shareholders of record on November 15, 2023.

SAN DIMAS, Calif.--(BUSINESS WIRE)-- On October 30, 2023, the Board of Directors of American States Water Company (NYSE:AWR) approved a quarterly dividend of $0.43 per share on the Common Shares of the company. This action marks the 350^th consecutive dividend payment by the company. For 69 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 company’s quarterly dividend rate has grown at a compound annual growth rate of 9.4% over the last five years.

Dividends on the Common Shares will be payable on December 1, 2023 to shareholders of record at the close of business on November 15, 2023.

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 264,000 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 24,700 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, wastewater collection, and treatment facilities located on 12 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. The company has achieved an 8.1% compound annual growth rate in its calendar year dividend payments from 2013 – 2023.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231101464569/en/

Eva G. Tang

Senior Vice President - Finance, Chief Financial

Officer, Corporate Secretary and Treasurer

(909) 394-3600, extension 707

Source: American States Water Company

FAQ

What is the dividend approved by American States Water Company?

The company approved a quarterly dividend of $0.43 per share on the Common Shares.

How many consecutive dividend payments has American States Water Company made?

This marks the 350th consecutive dividend payment by the company.

How many years has American States Water Company increased its calendar year dividend?

Shareholders have received an increase in their calendar year dividend for 69 consecutive years.

What is the company's goal for the compound annual growth rate in the dividend?

The company aims for a compound annual growth rate in the dividend of more than 7% over the long-term.

What is the compound annual growth rate of the company's quarterly dividend rate over the last five years?

The company's quarterly dividend rate has grown at a compound annual growth rate of 9.4% over the last five years.

When will the dividends be payable?

Dividends on the Common Shares will be payable on December 1, 2023.

Who are the eligible shareholders to receive the dividends?

The dividends will be payable to shareholders of record at the close of business on November 15, 2023.