American States Water Company Announces Regular Common Dividends

Rhea-AI Summary

American States Water Company (NYSE:AWR) announced a $0.43 per share quarterly dividend, marking the 352nd consecutive dividend payment. Shareholders have seen an increase in their dividend for 69 consecutive years, with a compound annual growth rate of over 7%. The quarterly dividend rate has grown at a 9.4% compound annual growth rate over the last five years.

Positive

• The company has a long history of paying regular dividends, with the latest being the 352nd consecutive dividend payment.
• Shareholders have enjoyed an increase in dividends for 69 consecutive years, reflecting the company's commitment to rewarding its investors.
• The company's dividend growth rate has been impressive, aiming for a compound annual growth rate of over 7% in the long term and achieving a 9.4% compound annual growth rate over the last five years.

Negative

• None.

SAN DIMAS, Calif.--(BUSINESS WIRE)-- On May 6, 2024, 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 352^nd 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 calendar years.

Dividends on the Common Shares will be payable on June 3, 2024 to shareholders of record at the close of business on May 20, 2024.

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 ten states. Through its water utility subsidiary, Golden State Water Company, the company provides water service to approximately 264,200 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 24,800 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 twelve military bases throughout the country under 50-year privatization contracts with the U.S. government and one military base under a 15-year contract.

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/20240506205026/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 latest quarterly dividend announced by American States Water Company for its Common Shares?

American States Water Company announced a quarterly dividend of $0.43 per share on the Common Shares.

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

American States Water Company has made 352 consecutive dividend payments.

When will the dividends on the Common Shares be payable to shareholders?

The dividends on the Common Shares will be payable on June 3, 2024.

What is the compound annual growth rate target for the dividend by American States Water Company?

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