American States Water Company - AWR STOCK NEWS

American States Water Company (NYSE:AWR) has appointed Thomas A. Eichelberger as a director effective February 8, 2023. This appointment fills a vacancy left by Sarah J. Anderson's resignation. Eichelberger, a former Audit Partner at Deloitte & Touche LLP, brings over 37 years of public accounting experience, particularly with utility companies. He will stand for election at the 2023 annual meeting. Eichelberger holds degrees from Georgia Institute of Technology and the University of Notre Dame, and is a certified public accountant in Georgia and Florida. American States Water has a long history of dividend payments, having increased them annually for 68 years.

On February 7, 2023, the Board of Directors of American States Water Company (NYSE:AWR) declared a quarterly dividend of $0.3975 per share, marking the 347^th consecutive dividend payment. The company has a 68-year track record of increasing annual dividends, placing it among an elite group on the New York Stock Exchange. American States Water Company has achieved a 9.2% compound annual growth rate in dividends from 2012 to 2022, with a long-term goal of over 7%. The dividend is set to be paid on March 1, 2023, to shareholders recorded by February 21, 2023.

American States Water Company (NYSE:AWR) reported a decrease in third quarter consolidated diluted earnings per share (EPS) of $0.07, totaling $0.69, compared to $0.76 in 2021. This decline is attributed to $1.3 million in investment losses, equating to $0.03 per share. Additionally, water revenues were based on outdated 2021 rates pending approval from the CPUC. If approved, new rates retroactive to January 1, 2022, would result in an estimated revenue increase of $8.7 million. Adjusted EPS for the quarter would have been $0.82, reflecting a 7.9% increase year-over-year.

On November 1, 2022, American States Water Company (NYSE:AWR) announced a quarterly dividend of $0.3975 per share, marking the 346th consecutive dividend payment. The company has increased its annual dividend for 68 years, boasting a 9.2% compound annual growth rate in dividends from 2012 to 2022. The current dividend policy aims for over 7% growth long-term. Dividends will be payable on December 1, 2022, to shareholders on record as of November 15, 2022.

American States Water Company (NYSE:AWR) will release its third quarter financial results for the period ended September 30, 2022, after the market closes on November 7, 2022. A conference call to discuss these results will occur on November 8, 2022, at 2:00 p.m. Eastern Time, featuring CEO Robert Sprowls and CFO Eva Tang. Interested parties can listen live and access slides via www.aswater.com. The call will be archived for replay from November 8 at 5:00 p.m. ET until November 15, 2022.

American States Water Company (NYSE:AWR) announced the signing of Senate Bill 1469 by California Governor Gavin Newsom on September 30, 2022. Effective January 1, 2023, this legislation supports water conservation as California faces its driest period in 1,200 years. It allows utilities like Golden State Water Company to utilize the Water Revenue Adjustment Mechanism (WRAM) in their next rate case, aimed at promoting water conservation. Since WRAM's implementation in 2008, the company has successfully decreased water usage per customer by 32%.

American States Water Company (NYSE:AWR) reported a decrease in diluted EPS to $0.54 for Q2 2022, down from $0.72 in Q2 2021, reflecting a $0.18 drop partly due to $3.5 million investment losses. The company awaits approval from the CPUC for new water rates retroactive to January 1, 2022, which could boost earnings by $0.10 per share. The board has also approved an 8.9% dividend increase effective September 1, 2022. Adjusted EPS stood at $0.71, a slight increase from $0.69 in 2021, highlighting underlying business stability despite external pressures.

American States Water Company (NYSE:AWR) announced a dividend increase from $0.3650 to $0.3975 per share, effective for Q3 2022. This marks the 345th consecutive dividend payment and represents an 8.9% annualized increase, totaling $1.59 per share. The dividend growth shows a 9.3% CAGR over the past five years. Dividends will be payable on September 1, 2022, to shareholders of record by August 15, 2022. The company boasts 68 years of consistent annual dividend increases, reflecting strong financial confidence and a commitment to shareholder value.

American States Water Company (NYSE:AWR) announced it will release its second quarter financial results for the period ending June 30, 2022, after the market closes on August 1, 2022. A conference call will follow on August 2, 2022, at 2:00 p.m. ET, hosted by President Robert Sprowls and CFO Eva Tang. Investors can listen live and access slides through the company's website, with an archived replay available from 5:00 p.m. ET on the same day until August 9, 2022. The company has paid annual dividends since 1931, marking 67 consecutive years of increases.