California Water Service Group Board of Directors Declares 319th Consecutive Quarterly Dividend

Rhea-AI Summary

California Water Service Group (NYSE: CWT) has declared its 319th consecutive quarterly dividend of $0.28 per common share. The dividend will be paid on November 22, 2024, to stockholders of record as of November 12, 2024. The company, through its regulated utilities in California, Hawaii, New Mexico, Washington, and Texas, provides water and wastewater services to more than 2.1 million people.

Positive

• Maintains consistent dividend payment track record with 319th consecutive quarterly dividend
• Stable dividend amount of $0.28 per share
• Large customer base of 2.1 million people across five states

Negative

• None.

Insights

Financial Analyst

The declaration of CWT's 319th consecutive quarterly dividend of $0.28 per share demonstrates remarkable consistency in shareholder returns. This 80-year track record of uninterrupted dividends positions CWT among the most reliable dividend-paying utilities. The current dividend implies an annual yield of approximately 2.2% based on recent stock prices, which aligns with industry standards for regulated water utilities. The consistency in dividend payments reflects the company's stable business model and strong cash flow generation from its regulated operations across five states. While the dividend amount remains unchanged from previous quarters, the maintenance of this payout signals management's confidence in the company's financial health and commitment to shareholder returns.

SAN JOSE, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) -- At its meeting on October 30, 2024, the California Water Service Group (NYSE: CWT) Board of Directors declared the company's 319th consecutive quarterly dividend in the amount of $0.28 per common share. It will be payable on November 22, 2024 to stockholders of record as of the close of business on November 12, 2024.

California Water Service Group is the parent company of regulated utilities California Water Service, Hawaii Water Service, New Mexico Water Service, and Washington Water Service, as well as Texas Water Service, a utility holding company. Together, these companies provide regulated and non-regulated water and wastewater service to more than 2.1 million people in California, Hawaii, New Mexico, Washington, and Texas. California Water Service Group’s common stock trades on the New York Stock Exchange under the symbol “CWT.” Additional information is available online at www.calwatergroup.com.

This news release contains forward-looking statements within the meaning established by the Private Securities Litigation Reform Act of 1995 (“PSLRA”). The forward-looking statements are intended to qualify under provisions of the federal securities laws for “safe harbor” treatment established by the PSLRA. Forward-looking statements in this news release are based on currently available information, expectations, estimates, assumptions and projections, and our management’s beliefs, assumptions, judgments and expectations about us, the water utility industry and general economic conditions. These statements are not statements of historical fact. When used in our documents, statements that are not historical in nature, including words like will, would, expects, intends, plans, believes, may, could, estimates, assumes, anticipates, projects, progress, predicts, hopes, targets, forecasts, should, seeks or variations of these words or similar expressions are intended to identify forward-looking statements. Forward-looking statements are not guarantees of future performance. They are based on numerous assumptions that we believe are reasonable, but they are open to a wide range of uncertainties and business risks. Consequently, actual results may vary materially from what is contained in a forward-looking statement. Factors that may cause actual results to be different than those expected or anticipated include but are not limited to those described under the section entitled “Risk Factors” in our most recent Annual Report on Form 10-K, as such factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission. In light of these risks, uncertainties and assumptions, investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this news release. We are not under any obligation, and we expressly disclaim any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact
James P. Lynch
408-367-8200 (analysts)

Shannon Dean
408-367-8243 (media)

FAQ

What is California Water Service Group's (CWT) latest dividend amount for Q4 2024?

California Water Service Group's latest quarterly dividend is $0.28 per common share.

When is CWT's Q4 2024 dividend payment date?

The dividend will be paid on November 22, 2024, to stockholders of record as of November 12, 2024.

How many consecutive quarterly dividends has CWT paid?

CWT has paid 319 consecutive quarterly dividends, demonstrating a long history of consistent dividend payments.

How many customers does California Water Service Group (CWT) serve in 2024?

California Water Service Group serves more than 2.1 million people across California, Hawaii, New Mexico, Washington, and Texas.