SJW Group - SJW STOCK NEWS

SJW Group (NYSE: SJW) is set to release its 2021 full-year and fourth quarter financial results on February 17, 2022. Following this, a comprehensive review will be conducted by CEO Eric W. Thornburg and CFO Andrew F. Walters on February 18, 2022 at 10:00 a.m. PT. The company, providing high-quality water services to nearly 1.5 million customers, emphasizes its focus on investment, community engagement, and delivering sustainable value to shareholders. An archived webcast will be available until April 25, 2022.

SJW Group has appointed James P. Lynch as Chief Accounting Officer and Andrew F. Walters as Chief Financial Officer, effective January 26. Lynch, previously CFO since 2010, will oversee financial reporting and compliance, leveraging his extensive accounting background. Walters, formerly Chief Corporate Development Officer, will focus on business planning and investor relations. Peter Fletcher has been named Vice President - Information Security Officer. These changes enhance succession planning and aim to support SJW Group's transformation into a multistate utility, addressing the growing complexities in finance and operations.

The Board of Directors of SJW Group has declared a quarterly cash dividend of $0.36 per share, payable on March 1, 2022, to shareholders of record as of February 7, 2022. This represents a 5.9% increase compared to the December 2021 dividend, raising the annualized dividend to $1.44 from $1.36 in 2021. SJW Group has increased its dividend for 54 consecutive years and has a history of over 78 years of dividends, reflecting the board's confidence in the company's mission and long-term sustainability.

SJW Group (NYSE: SJW) has announced the acquisition of Texas Country Water, marking the fourth acquisition in Texas within the last year. This strategic move adds over 100 water customers and increases SJWTX's network to more than 24,000 service connections, reflecting a 20% growth in customer base. The company is investing $24.5 million in capital improvements for 2022 to enhance service reliability and quality. SJWTX operates in one of the fastest-growing regions between Austin and San Antonio, catering to a growing population.

SJW Group (NYSE: SJW) announced the acquisition of two water/wastewater utilities in Texas, Kendall West and Bandera East, enhancing its services for approximately 4,000 residents. This acquisition, comprising over 1,600 service connections, positions SJW in three of the fastest-growing U.S. counties. The company plans to invest $24.5 million in infrastructure improvements in 2022, but current customer rates will remain unchanged. This marks SJW's 14th acquisition since 2006, significantly expanding its operational footprint from 6,500 to over 23,900 service connections.

SJW Group (NYSE: SJW) announces the appointment of Becky Armendariz Klein to its Board of Directors, effective December 17, 2021. Klein, an independent board member, will serve on the Sustainability and Executive Compensation Committees. She brings extensive experience from her role as principal at Klein Energy, LLC and as a former chair of the Public Utilities Commission of Texas. Her background in energy and regulatory matters is expected to greatly benefit the company, which serves nearly 1.5 million customers.

SJW Group (NYSE: SJW), a leading investor-owned water and wastewater utility in the U.S., will present at the Bank of America Water Conference on Dec. 6, 2021, at 10:30 a.m. ET. CEO Eric Thornburg will discuss the company's growth strategy, investment opportunities, and industry trends. The presentation will be available live and as a replay on SJW's website the following day until March 6, 2022. SJW Group serves nearly 1.5 million customers, focusing on sustainable practices and community engagement.

SJW Group reported Q3 2021 net income of $19.1 million, down from $26.1 million a year prior, with diluted EPS of $0.64 compared to $0.91. Operating revenue increased to $166.9 million, attributed mainly to water rate hikes and regulatory mechanisms, though customer usage fell by $12.9 million. Operating expenses rose to $133.1 million, reflecting higher production costs and regulatory fees. Year-to-date, net income was $42.5 million compared to $48.2 million in 2020. The company maintains its earnings guidance of $1.85 to $2.05 per diluted share and declared a dividend of $0.34 per share.