California Water Service Group Board of Directors Declares 317th Consecutive Quarterly Dividend and 57th Consecutive Annual Dividend Increase
2024年4月25日 - 5:15AM
At its meeting on April 24, 2024, the California Water Service
Group (NYSE: CWT) Board of Directors declared the company's 317th
consecutive quarterly dividend in the amount of $0.28 per common
share. It will be payable on May 17, 2024 to stockholders of record
as of the close of business on May 6, 2024.
California Water Service Group is the parent company of
regulated utilities California Water Service, Hawaii Water Service,
New Mexico Water Service, and Washington Water Service, as well as
Texas Water Service, a utility holding company. Together, these
companies provide regulated and non-regulated water and wastewater
service to more than 2.1 million people in California, Hawaii, New
Mexico, Washington, and Texas. California Water Service Group’s
common stock trades on the New York Stock Exchange under
the symbol “CWT.” Additional information is available online
at www.calwatergroup.com.
This news release contains forward-looking statements
within the meaning established by the Private Securities Litigation
Reform Act of 1995 (“PSLRA”). The forward-looking statements are
intended to qualify under provisions of the federal securities laws
for “safe harbor” treatment established by the PSLRA.
Forward-looking statements in this news release are based on
currently available information, expectations, estimates,
assumptions and projections, and our management’s beliefs,
assumptions, judgments and expectations about us, the water utility
industry and general economic conditions. These statements are not
statements of historical fact. When used in our documents,
statements that are not historical in nature, including words like
will, would, expects, intends, plans, believes, may, could,
estimates, assumes, anticipates, projects, progress, predicts,
hopes, targets, forecasts, should, seeks or variations of these
words or similar expressions are intended to identify
forward-looking statements. Examples of forward-looking statements
in this news release include, but are not limited to, statements
describing Cal Water’s expected financial performance, investments
in infrastructure projects and PFAS treatment, GHG emissions
reductions targets, and expectations regarding the business and
financial impact of the 2021 GRC decision. Forward-looking
statements are not guarantees of future performance. They are based
on numerous assumptions that we believe are reasonable, but they
are open to a wide range of uncertainties and business risks.
Consequently, actual results may vary materially from what is
contained in a forward-looking statement. Factors that may cause
actual results to be different than those expected or anticipated
include, but are not limited to: our ability to invest or apply the
proceeds from the issuance of common stock in an accretive manner;
governmental and regulatory commissions’ decisions, including
decisions on proper disposition of property; consequences of
eminent domain actions relating to our water systems; changes in
regulatory commissions’ policies and procedures, such as the CPUC’s
decision in 2020 to preclude companies from proposing fully
decoupled WRAMs, which impacted the 2021 GRC Filing; the outcome
and timeliness of regulatory commissions’ actions concerning rate
relief and other matters; increased risk of inverse condemnation
losses as a result of climate change and drought; our ability to
renew leases to operate water systems owned by others on beneficial
terms; changes in California State Water Resources Control Board
water quality standards; changes in environmental compliance and
water quality requirements; electric power interruptions,
especially as a result of public safety power shutoff programs;
housing and customer growth; the impact of opposition to rate
increases; our ability to recover costs; availability of water
supplies; issues with the implementation, maintenance or security
of our information technology systems; civil disturbances or
terrorist threats or acts; the adequacy of our efforts to mitigate
physical and cyber security risks and threats; the ability of our
enterprise risk management processes to identify or address risks
adequately; labor relations matters as we negotiate with the
unions; changes in customer water use patterns and the effects of
conservation, including as a result of drought conditions; our
ability to complete, in a timely manner or at all, successfully
integrate and achieve anticipated benefits from announced
acquisitions; the impact of weather, climate change, natural
disasters, and actual or threatened public health emergencies,
including disease outbreaks, on our operations, water quality,
water availability, water sales and operating results and the
adequacy of our emergency preparedness; restrictive covenants in or
changes to the credit ratings on our current or future debt that
could increase our financing costs or affect our ability to borrow,
make payments on debt or pay dividends; risks associated with
expanding our business and operations geographically; the impact of
stagnating or worsening business and economic conditions, including
inflationary pressures, general economic slowdown or a recession,
increasing interest rates, instability of certain financial
institutions, changes in monetary policy, adverse capital markets
activity or macroeconomic conditions as a result of the
geopolitical conflicts, and the prospect of a shutdown of the U.S.
federal government; the impact of market conditions and volatility
on unrealized gains or losses on our non-qualified benefit plan
investments and our operating results; the impact of weather and
timing of meter reads on our accrued unbilled revenue; the impact
of evolving legal and regulatory requirements, including emerging
environmental, social and governance requirements and our ability
to comply with PFAS regulations; and other risks and unforeseen
events described in our Securities and Exchange Commission (“SEC”)
filings. In light of these risks, uncertainties and assumptions,
investors are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date of this
news release. When considering forward-looking statements, you
should keep in mind the cautionary statements included in this
paragraph, as well as the Annual 10-K, Quarterly 10-Q, and other
reports filed from time-to-time with the SEC. We are not under any
obligation, and we expressly disclaim any obligation to update or
alter any forward-looking statements, whether as a result of new
information, future events or otherwise.
ContactJames P. Lynch408-367-8200
(analysts)
Shannon Dean 408-367-8243 (media)
California Water Service (NYSE:CWT)
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