California Wtr Svc Group Stock Price, News & Analysis

California Water Service Group (CWT) has declared its 306^th consecutive quarterly dividend of $0.23 per common share, payable on August 20, 2021, to stockholders of record by August 9, 2021. The company operates regulated utilities across five states, serving over 2 million people. As a holding company for water and wastewater services, CWT continues to demonstrate financial stability through consistent dividend payments, reflecting its commitment to rewarding shareholders.

California Water Service (CWT) has affirmed its readiness to tackle the drought emergency following an expanded declaration by Governor Gavin Newsom. The company aims to assist customers in conserving water by offering several initiatives, including doubled rebates on high-efficiency appliances, a smart landscape tune-up program, and complimentary conservation kits. CWT will also reintroduce its turf replacement program and introduce a drip system conversion rebate this summer. The utility serves approximately 2 million residents, having been operational since 1926.

California Water Service Group (NYSE: CWT) will announce its second quarter 2021 earnings results on July 29, 2021, at 9:00 a.m. ET. A teleconference will follow at 11:00 a.m. ET, allowing investors and stockholders to participate. To join the call, dial in 15 minutes early and use ID# 3119418. A replay will be available from 2:00 p.m. ET on the same day until September 29, 2021. The company provides regulated and non-regulated water services to over 2 million people across five states.

California Water Service (Cal Water) has submitted its 2022-2024 infrastructure improvement plans as part of its General Rate Case filing with the California Public Utilities Commission. The proposal entails investing $1.02 billion, with $913.1 million for new capital projects, focusing on replacing aging water pipelines and enhancing water supply reliability. Cal Water also aims to implement rate design changes to stabilize revenue while providing discounts for essential water usage. The proposed rate increases could lead to an average residential customer cost of less than $5 monthly.

California Water Service Group (CWT) announced the recipients of its 8th annual college scholarship program on June 17, 2021. The Group awarded $80,000 in total to 12 deserving students for the 2021-2022 academic year. Out of over 300 applicants, selections were based on academic achievement, community service, and financial need, with one-third being first-generation college attendees. The scholarship program has awarded $520,000 to date, funded entirely by shareholders as part of its philanthropic efforts.

California Water Service (CWT) filed its updated Water Shortage Contingency Plan with the California Public Utilities Commission, enhancing its drought management efforts. Currently in Stage 1 of the plan, the company has implemented penalties for various prohibited water uses, including excessive outdoor watering and vehicle washing without proper devices. To promote conservation, Cal Water doubled rebate amounts for high-efficiency devices and offers free conservation kits. The company emphasizes voluntary customer participation while monitoring for potential further actions as conditions evolve.

Hawaii Water Service, a subsidiary of California Water Service Group (CWT), has agreed to acquire HOH Utilities Company, enhancing its presence on the island of Kauai. This acquisition involves the wastewater utility serving about 1,800 customers in the Poipu/Koloa area. The deal is pending approval from the Hawaii Public Utilities Commission. Hawaii Water aims to provide the same quality service to the new customers as it does with its existing customer base of nearly 6,000 across multiple Hawaiian islands.

California Water Service Group (CWT) announced the election of Dr. Yvonne A. Maldonado to its Board of Directors during the Annual Stockholder Meeting on May 26, 2021. Dr. Maldonado, a prominent pediatric infectious diseases epidemiologist and professor at Stanford University, brings extensive expertise in infectious disease control. Her insights are expected to enhance the company's strategic direction, particularly in health-related governance. Group Chairman Peter C. Nelson expressed confidence that Dr. Maldonado's diverse background will be invaluable for the company and its stakeholders.

Students Proved Greywater can be Used to Solve Water Conservation Problems for Winning Entry

On May 12, 2021, a fifth- and sixth-grade class from Munsey Elementary in Bakersfield, California, won the grand prize of $3,500 in the 2021 Cal Water H2O Challenge for their project titled “Greywater: It’s Not Grey, It’s Blue.” The challenge encourages students to develop solutions for local water issues, particularly relevant in Kern County, which is facing drought. Students engaged with local experts, conducted various experiments, and created a website to spread awareness of greywater's potential in water conservation.