California Wtr Svc Group Stock Price, News & Analysis

California Water Service (Cal Water) has announced a new partnership with Walmart to enable customers to pay their water bills at Walmart Bill Pay service counters nationwide at no additional cost. The service is specifically designed for customers who prefer to pay their bills in person using cash or debit cards.

The new payment option will be available at any Walmart location offering bill payment services, featuring extended hours including nights and weekends. A key benefit is that bill payments are posted in near real-time, ensuring customers' accounts remain current. To use the service, customers need to visit Walmart's MoneyCenter or Customer Service Desk with their Cal Water account number.

California Water Service Group (NYSE: CWT) has announced its schedule for the release of 2024 full-year and fourth-quarter earnings results. The results will be released on Thursday, February 27, 2025, at 9:00 a.m. ET, followed by an earnings conference call at 11:00 a.m. ET.

Stockholders and investors can join the conference call by dialing 1-800-715-9871 or 1-646-307-1963 with ID# 5777452, or access the live audio webcast online. A replay will be available from 2:00 p.m. ET on February 27 through April 28, 2025. The call will be hosted by Chairman and CEO Martin A. Kropelnicki, CFO James P. Lynch, and VP of Rates and Regulatory Affairs Greg A. Milleman. A slide presentation will be available on Cal Water's website before the call.

California Water Service Group (NYSE: CWT) has announced its 320th consecutive quarterly dividend of $0.30 per common share, representing an $0.08 annual increase to yield $1.20 annually. Additionally, the Board declared a one-time special dividend of $0.04 per common share. Both dividends will be payable on February 21, 2025, to stockholders of record as of February 10, 2025.

This marks the company's 58th consecutive year of dividend increases. The special dividend was implemented to compensate for the moderated 2023 annual dividend due to delays in the 2021 General Rate Case. The company expects the 2025 anticipated annual dividend to align with market expectations.

California Water Service (NYSE: CWT) has received approval from the California Public Utilities Commission (CPUC) to postpone its Cost of Capital application from May 1, 2025, to May 1, 2026. The decision maintains Cal Water's current financial structure, including a 10.27% return on equity, 4.23% cost of debt, and a capital structure of 53.40% common equity and 46.60% long-term debt, with an authorized rate of return of 7.46%.

The CPUC also reauthorized the Water Cost of Capital Mechanism (WCCM), which automatically adjusts the rate of return based on Moody's Utilities Bond Index fluctuations. The next measurement date is set for September 30, 2025, with any potential changes effective January 1, 2026. The extension aims to manage workload across multiple ongoing water utility rate cases and reduce the frequency of customer rate changes.

California Water Service Group (NYSE: CWT) has launched its 11th annual College Scholarship Program, offering $80,000 in scholarships to customers and their dependents across California, Hawaii, New Mexico, and Washington. The program includes four $10,000 grand-prize scholarships and additional awards ranging from $2,500 to $5,000.

Eligible applicants must plan to enroll in full-time undergraduate studies at an accredited institution for the 2025-2026 academic year. Awards will be based on academic achievement, community service, and financial need. Applications are open until March 27, 2025, with winners announced by May's end.

The scholarship program, which has provided $755,000 to date, is funded through stockholder philanthropic giving and doesn't affect customer rates. It's administered by Scholarship America, a 501(c)(3) non-profit organization.

California Water Service Group (NYSE:CWT) has promoted Kenneth G. Jenkins to the position of Vice President, Water Resources Planning and Sustainability, effective January 1, 2025. Jenkins, who joined the company in 2005, has demonstrated significant expertise in water supply resilience and climate change adaptation.

Throughout his career at CWT, Jenkins has held various key positions, including Government & Community Relations Manager, leading the Conservation Department and Drought Response Task Force (2008-2020), and serving as Director of Water Resource Sustainability and Conservation. In 2022, he was appointed Chief Water Resource Sustainability Officer.

Chairman and CEO Martin A. Kropelnicki praised Jenkins' contributions to improving the company's water supply master planning and efforts in conservation, resilience, and sustainability. Jenkins, who holds BA degrees in Economics & Management and Political Science from Beloit College, serves on the California Water Efficiency Partnership board and is recognized as an industry expert.

California Water Service (Cal Water) has announced over $175,000 in grants to seven California fire departments through its sixth annual Firefighter Grant Program. The grants will support various initiatives including refurbishing training facilities, purchasing protective equipment, and acquiring life-saving tools.

Recipients include Dixon Fire Department for ballistics gear, Marysville Fire Department for training tower repairs, Northshore Fire Protection District for protective equipment, Redondo Beach Fire Department for mental wellness resources, Selma Fire Department for tactical equipment, Sunnyvale Fire Department for wildland firefighting gear, and Willows Fire Department for cardiac monitoring equipment. The program, which started in 2019, has nearly tripled its funding and is financed through Cal Water's philanthropic program without impacting customer rates.

Hawaii Water Service, a subsidiary of California Water Service Group (NYSE: CWT), has completed the acquisition of Kukui'ula South Shore Community Services' (KSSCS) wastewater system assets in southeast Kauai. The collection-only wastewater utility currently serves approximately 440 residential, commercial, and resort customers, with potential expansion to serve up to 1,500 connections upon completion of a planned resort buildout.

The system connects to the Poipu Water Reclamation Facility, which Hawaii Water acquired through HOH Utilities in late 2023. The purchase, approved by the Hawaii Public Utilities Commission in September 2024, expands Hawaii Water's presence on The Garden Isle, where it already serves customers in Poipu and Koloa, among other locations across Hawaii.

California Water Service Group (NYSE: CWT) has been named one of America's Most Responsible Companies by Newsweek for 2025, marking its fourth consecutive year receiving this recognition. The company ranked among the top 600 out of 2,000 largest public companies by revenue, and was one of only three investor-owned water utilities in the Energy & Utilities category.

The selection process involved evaluation of 30 key performance indicators (KPIs) focused on environmental, social, and governance (ESG) areas, along with independent survey results measuring public perception of corporate social responsibility activities. The recognition reflects the utility's ongoing commitment to sustainability and corporate citizenship.

Group Chairman & CEO Martin A. Kropelnicki emphasized the company's dedication to doing the right thing for customers, communities, employees, stockholders, and the environment.