18:53 | 21.04.2017
American Water Increases Quarterly Dividend by 10.7 Percent
Water Works Company, Inc. (NYSE: AWK) announced today that its Board
of Directors increased its quarterly cash dividend payment from 37.5
cents to 41.5 cents per share, a 10.7 percent increase. The company has
increased its dividend every year since its IPO in April 2008.
The increased payment is consistent with American Water’s dividend
practice, which is to link dividend increases to earnings per share
growth and target a payout ratio between 50 to 60 percent of net income.
“American Water continues our commitment to pay dividends that are
aligned with our financial performance, and to strike the right balance
between increased dividend payouts to shareholders and continued
proactive investment in our systems on behalf of our customers to ensure
clean, safe, reliable and affordable water services,” said Susan Story,
president and CEO of American Water.
The increased dividend will be payable on June 1, 2017 to all
shareholders of record as of May 5, 2017.
American Water offers a dividend reinvestment and direct stock purchase
plan called American Water Stock Direct, which enables stockholders to
reinvest cash dividends and purchase additional American Water common
shares without any brokerage commissions or service charges.
Stockholders and other persons may obtain a copy of the Plan prospectus
and an enrollment form by contacting American Stock Transfer & Trust
Company (“AST”) at 888-556-0423, visiting AST’s website at www.amstock.com,
contacting American Water’s Investor Relations department at
877-310-7174 or by visiting the Investor Relations webpage located at http://ir.amwater.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities. The offer is being made
solely through the Plan prospectus.
With a history dating back to 1886, American Water is the largest and
most geographically diverse U.S. publicly-traded water and wastewater
utility company. The company employs more than 6,800 dedicated
professionals who provide regulated and market-based drinking water,
wastewater and other related services to an estimated 15 million people
in 47 states and Ontario, Canada. More information can be found by
here to subscribe to Mobile Alerts for American Water.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170421005643/en/