Aqua America Announces a 6.1 Percent Cash Dividend Increase Payable December 1, 2012
August 02 2012 - 1:41PM
Business Wire
Aqua America’s (NYSE: WTR) Board of Directors today declared a
dividend increase of $0.01 per share from $0.165 per share to
$0.175 per share for the December 1, 2012 quarterly dividend, to
all shareholders of record on November 16, 2012. This represents a
6.1 percent increase to the quarterly dividend. This increase is
equivalent to $0.04 above the company’s current annualized dividend
rate of $0.66 to $0.70.
The Board also declared the regular $0.165 per share quarterly
common stock cash dividend to be paid on September 1, 2012 to
shareholders of record on August 17, 2012. Aqua has paid a
consecutive quarterly dividend for more than 65 years.
This is the company’s 22nd dividend increase in 21 years. Aqua
America Chairman and CEO Nicholas DeBenedictis said, “The Board
approved this action after a strategic session to review the
company’s 5-year business plan. This decision demonstrates the
Board’s continued confidence in the long-term growth potential of
our business model.”
Aqua America is one of the largest U.S.-based, publicly-traded
water utilities and serves almost 3 million residents in
Pennsylvania, Ohio, Illinois, Texas, New Jersey, Indiana, Virginia,
Florida, North Carolina, and Georgia. Aqua America is listed on the
New York Stock Exchange under the ticker symbol WTR.
This release contains forward looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including, among others, reference to the company’s confidence in
its long-term growth business model. There are important factors
that could cause actual results to differ materially from those
expressed or implied by such forward-looking statements including:
general economic business conditions, unfavorable weather
conditions, the success of certain cost containment initiatives,
changes in regulations or regulatory treatment, availability and
the cost of capital, the success of growth initiatives, and other
factors discussed in our Annual Report on Form 10-K for the fiscal
year ended December 31, 2011 which is on file with the SEC. We
undertake no obligation to publicly update or revise any
forward-looking statement.
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