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.
This page provides a historical and ongoing news archive for SJW, the former Nasdaq ticker for SJW Group, which has since rebranded as H2O America and now trades under the symbol HTO. Company news releases describe a national investor-owned network of local water and wastewater utilities focused on delivering clean, high-quality water and investing in critical infrastructure.
News items associated with the SJW symbol and its successor HTO include corporate rebranding announcements, leadership transitions, capital investment plans, regulatory decisions and financial results. For example, the company announced its name change to H2O America and new ticker symbol HTO, detailed multi-year capital plans for water and wastewater infrastructure, and reported annual and quarterly earnings with both GAAP and non-GAAP measures.
Sector-specific updates are common, such as general rate case decisions in California, infrastructure and conservation adjustments in Connecticut, water infrastructure charges in Maine, and system infrastructure charges in Texas. Releases also highlight dividend declarations and the company’s long history of consecutive dividend payments and annual dividend increases.
More recent communications under the H2O America name describe initiatives like proposed acquisitions of additional water and sewer utility assets in Texas and regulatory approvals for unified rate structures at subsidiaries such as The Maine Water Company. Together, these items illustrate how the company manages its regulated water and wastewater operations, interacts with state regulators and pursues growth within the utilities sector.
Investors and observers can use this news feed to review the company’s historical announcements under the SJW ticker and to understand the developments that shaped its evolution into H2O America (HTO), including strategy, regulation, capital spending and governance changes.
SJW Group (NYSE: SJW) announced approval for a $60 million drinking water treatment facility in Maine, significantly benefiting the Biddeford-Saco division. This stipulation agreement, now endorsed by the Maine Public Utilities Commission, will enable an annual revenue increase of $6.3 million effective July 1, 2022. The project enhances service to over 16,000 customers while committing to environmental sustainability, including a protected land initiative and solar energy integration. The new facility, replacing an aged plant, is expected to operate this spring.
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SJW Group reported a net income of $60.5 million for 2021, down from $61.5 million in 2020. Diluted earnings per share were $2.03, below the previous year's $2.14. Operating revenue rose to $573.7 million from $564.5 million, aided by water rate increases and new customer revenue. Operating expenses increased to $462.5 million, driven by higher production costs. Notable is the dividend increase to $1.44 per share. The company continues to pursue regulatory approvals for rate increases and capital projects in several states, aiming for sustainable growth.
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SJW Group (NYSE: SJW) is set to release its 2021 full-year and fourth quarter financial results on February 17, 2022. Following this, a comprehensive review will be conducted by CEO Eric W. Thornburg and CFO Andrew F. Walters on February 18, 2022 at 10:00 a.m. PT. The company, providing high-quality water services to nearly 1.5 million customers, emphasizes its focus on investment, community engagement, and delivering sustainable value to shareholders. An archived webcast will be available until April 25, 2022.
SJW Group has appointed James P. Lynch as Chief Accounting Officer and Andrew F. Walters as Chief Financial Officer, effective January 26. Lynch, previously CFO since 2010, will oversee financial reporting and compliance, leveraging his extensive accounting background. Walters, formerly Chief Corporate Development Officer, will focus on business planning and investor relations. Peter Fletcher has been named Vice President - Information Security Officer. These changes enhance succession planning and aim to support SJW Group's transformation into a multistate utility, addressing the growing complexities in finance and operations.
The Board of Directors of SJW Group has declared a quarterly cash dividend of $0.36 per share, payable on March 1, 2022, to shareholders of record as of February 7, 2022. This represents a 5.9% increase compared to the December 2021 dividend, raising the annualized dividend to $1.44 from $1.36 in 2021. SJW Group has increased its dividend for 54 consecutive years and has a history of over 78 years of dividends, reflecting the board's confidence in the company's mission and long-term sustainability.
SJW Group (NYSE: SJW) has announced the acquisition of Texas Country Water, marking the fourth acquisition in Texas within the last year. This strategic move adds over 100 water customers and increases SJWTX's network to more than 24,000 service connections, reflecting a 20% growth in customer base. The company is investing $24.5 million in capital improvements for 2022 to enhance service reliability and quality. SJWTX operates in one of the fastest-growing regions between Austin and San Antonio, catering to a growing population.
SJW Group (NYSE: SJW) announced the acquisition of two water/wastewater utilities in Texas, Kendall West and Bandera East, enhancing its services for approximately 4,000 residents. This acquisition, comprising over 1,600 service connections, positions SJW in three of the fastest-growing U.S. counties. The company plans to invest $24.5 million in infrastructure improvements in 2022, but current customer rates will remain unchanged. This marks SJW's 14th acquisition since 2006, significantly expanding its operational footprint from 6,500 to over 23,900 service connections.
SJW Group (NYSE: SJW) announces the appointment of Becky Armendariz Klein to its Board of Directors, effective December 17, 2021. Klein, an independent board member, will serve on the Sustainability and Executive Compensation Committees. She brings extensive experience from her role as principal at Klein Energy, LLC and as a former chair of the Public Utilities Commission of Texas. Her background in energy and regulatory matters is expected to greatly benefit the company, which serves nearly 1.5 million customers.