American States Water raises dividend for 63rd year
American States Water will raise its quarterly dividend to $0.255 per share. This action marks the 325(th) consecutive dividend payment by the company. For 63 consecutive years, American States Water Company shareholders have received an increase in their aggregate annual dividend.
Dividends on the common shares will be payable on September 1, 2017 to shareholders of record at the close of business on August 15, 2017.
“This dividend increase reflects our Board’s confidence in the company’s strategy and future prospects for both our subsidiaries: Golden State Water Company and American States Utility Services, Inc.,” said Robert J. Sprowls, President and CEO of American States Water Company. “Pragmatically increasing our dividend enables the company to attract capital to fund infrastructure investments to maintain the reliability of our utility systems for our customers. In addition, our contracted services business has grown to be a solid contributor to consolidated earnings and we expect it will continue to be a source of dividends for our shareholders,” Sprowls continued.
American States Water Company is the parent of Golden State Water Company and American States Utility Services, Inc. The company provides water service to customers located in Northern, Coastal and Southern California and distributes electricity to customers in the City of Big Bear and surrounding areas in San Bernardino County, California. Through its contracted services subsidiary, American States Utility Services, Inc., the company provides operations, maintenance and construction management services for water and wastewater systems located on military bases throughout the country under 50-year privatization contracts with the U.S. government.