Welcome to our dedicated page for Sjw Group news (Ticker: SJW), a resource for investors and traders seeking the latest updates and insights on Sjw Group stock.
SJW Group, now H2O America, reports developments tied to its role as a national investor-owned water and wastewater utility. Company news commonly covers regulated water operations, rate structures, infrastructure investment, customer assistance programs, dividends, and financial results across local utility subsidiaries such as San Jose Water, Connecticut Water, and Maine Water.
Updates also include public-utility regulatory decisions, leadership and finance appointments, operational efficiency initiatives, and the completed corporate rebrand from SJW Group to H2O America with a new Nasdaq ticker. Subsidiary news highlights drinking-water collection, treatment, and distribution systems serving homes, businesses, and fire-protection customers in regulated service territories.
SJW Group (NYSE: SJW) announced the appointment of Mohammed G. (Rally) Zerhouni as the new senior vice president of finance and principal accounting officer, effective January 30. Zerhouni succeeds Wendy Avila-Walker, who is retiring after over 17 years. Previously, Zerhouni served as CFO of Veolia North America and brings extensive experience in utility finance and accounting. SJW Group's CEO, Eric W. Thornburg, expressed confidence in Zerhouni's capabilities, highlighting his alignment with the company's values of teamwork and transparency. SJW serves approximately 1.5 million customers across water-related utilities.
SJW Group (NYSE: SJW) has announced a 5.6% increase in its annual dividend, now set at $1.52 per share, compared to $1.44 in 2022. The quarterly cash dividend of $0.38 will be payable on March 1, 2023, to shareholders on record as of Feb. 6, 2023. This marks 55 consecutive years of annual dividend increases for the company. SJW Group has been distributing dividends for over 79 years, reflecting its commitment to delivering value to shareholders and commitment to high-quality water service.
SJW Group (NYSE: SJW) announced the acquisition of KT Water Development Ltd and KT Water Resources L.P. by its Texas subsidiary, SJWTX Inc., aimed at enhancing water supply services. This deal will add over 550 customers and boost system-wide water supply by 50%, addressing current and future growth in Comal County, Texas. The acquisition, pending approval from the Public Utilities Commission of Texas (PUCT), is expected to finalize in Q3 2023. This strategic move aligns with the company’s commitment to sustainable growth, as SJWTX has expanded its customer base from 6,500 to 26,000 since 2006 through multiple acquisitions.
SJW Group has appointed Bruce A. Hauk as its new Chief Operating Officer, effective January 1, 2023. Hauk, who joined the company in August 2022, will oversee utility operations serving over 1.5 million customers across California, Connecticut, Maine, and Texas. He aims to enhance the company’s acquisition strategies and operational efficiency. Hauk's leadership is expected to significantly contribute to SJW Group’s growth strategy, building on a record of over 60% customer growth and more than double the utility plant in the last five years.
SJW Group (NYSE: SJW) has announced the promotion of Stephanie Orosco to Chief Human Resources Officer, effective November 4, 2022. Previously the Vice President of HR at San Jose Water, Orosco will lead HR strategy focusing on areas such as succession planning and talent management. SJW Group, a leading water utility serving about 1.5 million people, emphasizes employee welfare and organizational performance. Executive statements highlight Orosco's dedication to company culture and talent retention.
SJW Group has promoted Kristen A. Johnson to Senior Vice President and Chief Administrative Officer, a role she has held since 2019. Johnson will continue leading various strategic initiatives across information technology, human resources, and enterprise risk teams. Eric W. Thornburg, SJW Group Chair, emphasized Johnson's significant impact on the organization. Johnson also serves at Connecticut Water Company, demonstrating her leadership capabilities. SJW Group is a major player in the water utility industry, serving approximately 1.5 million customers across multiple states.
Connecticut Water Service, Inc. (a subsidiary of SJW Group) announces the retirement of Maureen P. Westbrook, president of CTWS, effective Dec. 31, 2022. Craig J. Patla, vice president of service delivery, will succeed her from Jan. 1, 2023. Westbrook has been instrumental in the company's success since joining in 1988 and leading since 2019. Patla has extensive experience in operational roles and has been with the company since 1990. The leadership transition aims to maintain the company's commitment to service and environmental stewardship.
SJW Group (NYSE: SJW) has appointed Marisa Joss as Deputy General Counsel and Assistant Corporate Secretary. In this role, she will provide legal and risk management support to SJW and its subsidiaries. Marisa brings substantial experience from Consolidated Edison and Eleusis, along with strong governance and compliance expertise. This appointment aims to align with SJW’s values and enhance its leadership team with her industry knowledge. SJW Group continues to focus on delivering high-quality water services to about 1.5 million people across the U.S.
SJW Group reported Q3 2022 diluted earnings of $0.82 per share, up from $0.64 in Q3 2021, with operating revenue of $176.0 million. The results were affected by regulatory changes and delays. The company anticipates an additional $25.1 million in revenues thanks to an approved California rate case. SJW reaffirmed its 2022 earnings guidance of $2.30 to $2.40 per diluted share, alongside approximately $223 million in regulated infrastructure investments. A dividend of $0.36 per share was also declared.
SJW Group (NYSE: SJW) will announce its third-quarter 2022 financial results on October 27, 2022, after market close. A webcast presentation featuring CEO Eric Thornburg and CFO Andrew F. Walters will be held on October 28, 2022, at 10 a.m. PT / 1 p.m. ET. Investors can access the webcast and materials via www.sjwgroup.com, with an archive available until January 23, 2023. SJW Group provides essential water services to approximately 1.5 million people across several states.