American Water Works Company, Inc. reports developments tied to its regulated water and wastewater utility operations across the United States. The company provides drinking water and wastewater services to about 14 million people through regulated operations in 14 states and on 18 military installations, with operating subsidiaries including California American Water, Pennsylvania American Water, Maryland American Water, Virginia American Water, Illinois American Water, Iowa American Water and Tennessee American Water.
News for AWK commonly covers annual water quality and Consumer Confidence Reports, state-level service updates, infrastructure investment, public utility rate proceedings, drinking water standards, community programs and subsidiary activity in local service territories. Updates also reference the company’s long operating history and its role in regulated water and wastewater service delivery.
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Missouri American Water will replace over 7,940 feet of water main in Bel-Ridge, starting from May 3 through August 2021. This project aims to enhance the water system in St. Louis County, resulting in improved water pressure for residents and fire hydrants. Construction will affect eight streets, with work hours from 7 a.m. to 5 p.m., Monday to Friday. Motorists are advised to exercise caution in the construction zones. Updates will be provided to customers through various communication methods. Missouri American Water serves approximately 1.5 million people.
West Virginia American Water has requested a rate adjustment from the Public Service Commission of West Virginia to cover $252 million in infrastructure investments, which include replacing over 48 miles of aging pipelines. If approved, average residential water customers will see a monthly increase of $11.26, while sewer bills would rise from $54.14 to $71.84. The proposed rate adjustments aim to ensure water quality and service reliability for over 545,000 residents. The PSC's decision on this request is expected by February 25, 2022.
American Water Works Company (NYSE: AWK) has increased its quarterly cash dividend from $0.55 to $0.6025 per share, reflecting a continued commitment to dividend growth. This increase aligns with the company's historical practice, showcasing a 10% CAGR over the past five years. The new dividend, payable on June 1, 2021, to shareholders of record as of May 11, 2021, demonstrates the company's confidence in its long-term strategies while targeting a payout ratio of 50% to 60% of earnings. Shareholders can also benefit from the dividend reinvestment plan.
New Jersey American Water has received an Environmental Award from the Commerce and Industry Association of New Jersey for its innovative approach to treating PFAS using Strong Base Anion Exchange (AIX) technology at its Short Hills Station. This technology, which minimizes waste, was fast-tracked for installation to comply with new state regulations. Additionally, the company received the Governor’s Environmental Excellence Award in December 2020 and the Leading Infrastructure Award in February 2021 for similar initiatives, showcasing its commitment to sustainability and safe drinking water.
Missouri American Water is initiating a project to replace approximately 17,000 feet (3.2 miles) of water main in St. Louis County, aiming to enhance water service reliability and pressure for residents and fire protection. The project, starting April 19, 2021, will occur along N. Ballas Road and is set to span until December 2021. The construction will involve traffic adjustments, ensuring safety through careful traffic management. Continuous updates will be provided to customers via notifications and by encouraging them to update contact information through the company’s self-service portal.
Missouri American Water has appointed Rebecca Losli as the new Director of Engineering. She will oversee the Engineering Department's planning, design, and construction efforts, along with the capital budget implementation. Losli brings extensive experience from her previous role at the Metropolitan St. Louis Sewer District and her engineering firm. Her focus will be on enhancing operational efficiency and technology integration to ensure reliable water services for Missouri's residents. Missouri American Water serves approximately 1.5 million people across the state.
American Water Works Company (NYSE: AWK) plans to release its Q1 2021 financial results on May 3, 2021, after market close. A conference call will be held on May 4, 2021, at 9 a.m. EDT, featuring CEO Walter Lynch and CFO Susan Hardwick, with a Q&A session for investors and analysts. Investors can access the call via the company’s Investor Relations webpage. An audio archive will be available until May 11, 2021. American Water serves 15 million customers across 46 states, focusing on safe and reliable water services.
West Virginia American Water has secured an agreement to acquire the water system of the Town of Cedar Grove, serving approximately 395 customers.
The acquisition aims to enhance water quality and reliability, allowing the town's leadership to focus on other priorities. West Virginia American Water plans to invest in infrastructure improvements and establish a connection with its existing system in Kanawha County. This move follows its recent acquisitions in neighboring towns and is subject to Public Service Commission approval.
California American Water surpassed its 2020 diverse supplier goal, achieving nearly 40% of its $42 million spending with minority, women, LGBTQ+, and disabled veteran-owned businesses. This exceeds the California Public Utilities Commission's goal of 21.5%. The company added 27 new diverse suppliers and facilitated over $5 million in spending with diverse subcontractors. They aim to continue this momentum as a leader in diverse supplier engagement, highlighting their commitment to community representation in business practices.