California Wtr Svc Group Stock Price, News & Analysis

The California Water Service Group (CWT) announced its 311^th consecutive quarterly dividend of $0.25 per common share, set for payment on November 18, 2022. Stockholders of record must hold shares by November 7, 2022. Earnings results will be disclosed on October 27, 2022, followed by a conference call at 11:00 a.m. ET.

CWT provides regulated and non-regulated water services to over 2 million customers across five states.

Hawaii Water Service, a subsidiary of California Water Service Group (CWT), has received approval from the Hawaii Public Utilities Commission to acquire the wastewater system assets of Keauhou Community Services, Inc. This acquisition will serve approximately 1,500 residential and commercial customers in Keauhou. Hawaii Water plans to invest in local infrastructure to enhance service reliability and environmental protection. The transaction is expected to close by Q1 2023, following standard closing conditions. The company has operated the Keauhou system since 2018 through an existing contract.

California Water Service Group (CWT) has been recognized as a Great Place to Work for 2022-2023, marking its seventh consecutive year receiving this honor. The certification, awarded by the Great Place to Work® Institute, includes a Culture Audit and a Trust Index based on employee feedback. CEO Martin A. Kropelnicki emphasized the company's commitment to enhancing employee experience through improved benefits, flexible work schedules, and robust communication strategies. The utility serves over 2 million people across several states, underscoring its significant community impact.

California Water Service’s Antelope Valley District achieved the highest water savings among all state suppliers in August, cutting usage by 46.1% compared to 2020. Overall, Cal Water customers reduced consumption by 12.3% for the fourth consecutive month, with 12 districts surpassing a 15% reduction goal amidst ongoing drought conditions. To support water conservation, Cal Water is increasing rebates for various high-efficiency fixtures, including toilets and washing machines. The company serves around 2 million people across California.

Washington Water Service, a subsidiary of California Water Service Group, has received approval from the Washington Utilities and Transportation Commission to acquire Stroh’s Water Company. The acquisition, subject to customary conditions, is expected to close by Q1 2023. Washington Water has served Stroh’s 900 customers since March 2021 and aims to integrate the systems for enhanced reliability. Group President Martin A. Kropelnicki expressed gratitude for the regulatory process and anticipation of welcoming Stroh’s customers into the Washington Water family.

California Water Service Group (NYSE: CWT) is set to release its third quarter 2022 earnings on October 27, 2022, at 9:00 a.m. ET, followed by a conference call at 11:00 a.m. ET.

Interested investors can join by dialing 1-800-715-9871 or 1-646-307-1963, using ID# 5254006, or by accessing the live audio webcast. A replay will be available from 3:00 p.m. ET on the same day until December 26, 2022.

California Water Service Group provides regulated water and wastewater services to over 2 million people across five states.

California Water Service Group (NYSE: CWT) has appointed Terry P. Bayer as Lead Independent Director, effective immediately. Bayer, with extensive expertise from her tenure as COO of Molina Healthcare, brings valuable operational and governance experience. Chairman Peter C. Nelson will retire in May 2023, following a long-standing leadership role since 1996. Martin A. Kropelnicki will succeed him as Chairman, President & CEO. The company emphasizes its commitment to effective leadership as it transitions to new governance, aiming to enhance its operations serving over 2 million customers across multiple states.

California Water Service commended Governor Newsom for signing SB 1469, which aims to enhance water conservation efforts and sustain low water bills for Californians, particularly low-income households. The bill, backed by a diverse coalition, enables water providers regulated by the CPUC to implement a decoupling regulatory model. This model allows them to prioritize conservation without risking resources needed for safe operations, responding effectively to prolonged drought conditions spurred by climate change.

California Water Service (CWT) customers have achieved significant water conservation, reducing usage by 12.3% in August compared to 2020, marking the fourth consecutive month of reductions. Notably, twelve districts surpassed 15% savings, with Antelope Valley leading at 46.1%. The utility supports this effort with free lawn signs and rebates for water-saving programs. In July, Cal Water also exceeded state savings targets with a 12.4% reduction. The utility serves approximately 2 million people in California and has been operational since 1926.