American States Water Announces 27% Increase in Quarterly Dividend
- Brings Payout Ratio More in Line with Industry Peers
- Reflects Sustainability of Earnings from Contracted Services Business
“This substantial increase in our quarterly dividend reflects our
Board’s confidence in the sustainability of the company’s earnings and
the prospects for our future and its desire to have a payout ratio that
is more in line with our peers," said
Sprowls continued, “Earnings from our contracted services business have grown significantly over the past 3 ½ years and we have not historically paid a dividend on those earnings. We believe the earnings from this business will be a continued source of dividends for our shareholders and we have adjusted our dividend accordingly.” Sprowls added, "We also believe that prudently increasing dividends enhances our ability to attract capital in the future to fund necessary infrastructure investments in our utility operations."
Dividends on the Common Shares will be payable on
Certain matters discussed in this news release with regard to the
Company's expectations may be forward-looking statements that involve
risks and uncertainties. The assumptions and risk factors that could
cause actual results to differ materially include those described in the
Company's filings with the
Source:
American States Water Company
Eva G. Tang
Senior Vice
President - Finance, Chief Financial Officer, Corporate Secretary and
Treasurer
909-394-3600, extension 707