Welcome to our dedicated page for California Wtr Svc Group news (Ticker: CWT), a resource for investors and traders seeking the latest updates and insights on California Wtr Svc Group stock.
California Water Service Group (CWT) delivers essential water services across multiple U.S. states through regulated utilities and specialized subsidiaries. This page provides investors and stakeholders with authoritative updates on operational milestones, financial performance, and strategic initiatives shaping the company's role in the water utility sector.
Access timely press releases covering earnings reports, infrastructure investments, and regulatory compliance developments. Our curated collection ensures you stay informed about CWT updates including acquisitions like Kings Mountain, PFAS mitigation efforts, and rate case resolutions critical to understanding the company's financial trajectory.
Discover analysis of CWT's operational strategies across California, Texas, and other key markets. Content emphasizes infrastructure modernization projects, customer growth trends, and environmental stewardship initiatives while maintaining strict compliance with financial disclosure standards.
Bookmark this page for continuous access to CWT's latest news. Monitor how regulatory frameworks and capital expenditure programs impact long-term service reliability and shareholder value in the water utility industry.
California Water Service Group (NYSE:CWT) has announced key leadership changes to enhance operational efficiency. Greg A. Milleman will become Vice President, Rates & Regulatory Affairs, overseeing regulatory matters across California, Hawaii, New Mexico, and Washington starting January 1, 2022. Paul G. Townsley transitions to Vice President, Corporate Development, focusing on growth strategy. Michelle R. Mortensen is promoted to Vice President, Corporate Secretary, and Chief of Staff. Additionally, Elissa Y. Ouyang and Ronald D. Webb will take on new roles as Vice Presidents, reflecting the company's commitment to recognizing talent.
California Water Service Group (CWT) has promoted Sophie M. James to Chief Water Quality Officer, effective January 1, 2022. This new role underscores the company's commitment to exceeding state and federal drinking water standards. James has extensive experience, having worked at California Water Service since 2006 in various capacities including Director of Water Quality. She holds advanced degrees and certifications in chemistry and water treatment. This appointment strengthens the company's focus on delivering safe and clean water to over 2 million customers across multiple states.
California Water Service (CWT) has submitted a $20.8 million application to the State Water Resources Control Board to provide financial relief to customers struggling to pay water bills due to the COVID-19 pandemic. This funding will allow Cal Water to forgive past-due balances from March 2020 to June 2021. The company expects approval by early 2022 and will automatically apply credits to affected customers' accounts. Additionally, they offer interest-free payment plans for other outstanding balances and a Customer Assistance Program for income-eligible clients.
California Water Service has launched the eighth annual Cal Water H2O Challenge, encouraging K-12 students to develop solutions for local water issues. This year, the competition, in partnership with the California Association of Science Educators and DoGoodery, opens to classrooms and school clubs across Cal Water service areas. Participants can win up to $3,500, with additional scholarships and prizes. The program aims to engage students, enhance scientific literacy, and address water conservation.
The challenge has seen nearly 300 classrooms participate, adapting to hybrid learning environments.
California Water Service Group (CWT) reported a net income of $97.6 million or $1.91 per diluted share for the first nine months of 2021, up from $81.3 million or $1.66 per diluted share in the same period of 2020. This $16.3 million increase is largely due to rate relief from the 2018 California General Rate Case. However, third quarter net income dropped to $62.5 million from $96.4 million year-over-year, attributed to prior GRC rate relief.
Operating revenue also decreased by 15.6% to $256.7 million. Cash dividends remain stable at $0.23 per share.
California Water Service Group (CWT) has declared its 307th consecutive quarterly dividend of $0.23 per share, payable on November 19, 2021, to stockholders of record by November 8, 2021. The company, which provides water and wastewater services to over 2 million people across five states, including California and Texas, continues to demonstrate commitment to shareholder returns.
California Water Service Group (CWT) will release its third quarter 2021 earnings on October 28, 2021, at 9:00 a.m. ET, followed by a conference call at 11:00 a.m. ET. Investors can join the call by dialing 1-833-832-5130 or by accessing the live audio webcast. The call will feature key executives, including President and CEO Martin Kropelnicki. A replay will be available after the call. CWT provides water services to over 2 million customers across multiple states, including California, Hawaii, New Mexico, Texas, and Washington.
California Water Service Group (CWT) has been recognized as a Great Place to Work for six consecutive years by the Great Place to Work® Institute. This accolade follows the company's recent honors, including being named a Top Workplace in the Bay Area and receiving the Most Valuable Corporate COVID-19 Response award. The certification process involves a Culture Audit and a Trust Index based on employee feedback. President and CEO Martin A. Kropelnicki highlighted the company's commitment to flexibility during the pandemic while providing reliable water service to over two million customers.
California Water Service (CWT) has launched its 2021 Firefighter Grant Program, increasing the funds available to local fire departments to $175,000, an 18% increase from 2020. Grants assist fire departments with costs related to fire protection, equipment, and training. Since the program's inception in 2019, CWT has allocated over $300,000 to 17 departments, with average grants around $16,000. The application deadline is October 29, 2021. This initiative is part of CWT's philanthropic efforts and will not impact customer rates.
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