California Water Service Group Board of Directors Declares 314th Consecutive Quarterly Dividend
26 Julho 2023 - 5:10PM
At its meeting today, the California Water Service Group (NYSE:
CWT) Board of Directors declared the company's 314th consecutive
quarterly dividend in the amount of $0.26 per common share. It will
be payable on August 18, 2023 to stockholders of record as of the
close of business on August 7, 2023.
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 management's beliefs, assumptions,
judgments and expectations about the Company, 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 such
words or similar expressions are intended to identify
forward-looking statements. 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: the impact of the ongoing COVID-19 pandemic and
related public health measures; 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 in their next GRC filing (which impacted our 2021
GRC filing related to our operations commencing in 2023); the
outcome and timeliness of regulatory commissions' actions
concerning rate relief and other matters, including with respect to
our 2021 GRC filing; 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 (PSPS)
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, and changes in monetary policy; 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; and other risks and unforeseen
events described in our SEC filings. 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
Securities and Exchange Commission (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.
ContactDavid Healey 408-367-8200
(analysts)
Shannon Dean 408-367-8243 (media)
California Water Service (NYSE:CWT)
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