Aqua America Declares 7.5 Percent Cash Dividend Increase Payable September 1, 2016
August 02 2016 - 12:41PM
Business Wire
26th increase in 25
years
The Board of Directors of Aqua America (NYSE: WTR) declared a
quarterly cash dividend of $0.1913 per share today, payable on
September 1, 2016 to all shareholders of record on August 18,
2016.
The September 1, 2016 dividend will represent a $0.0133, or 7.5
percent increase compared to the $0.178 cash dividend the company
paid in June of this year. This marks the 26th dividend increase in
the past 25 years, and the company has paid a consecutive quarterly
cash dividend for more than 71 years. Following the increase, the
annualized dividend rate will be $0.7652 per share. The Board’s
stated long-term target dividend payout ratio continues to be in
the range of 60 to 70 percent of earnings from operations.
“The Board’s decision to increase the quarterly dividend
reflects our confidence in the company’s ability to continue
delivering strong results based on its strategy for future
performance,” said Aqua America’s President and Chief Executive
Officer Christopher Franklin. “We are proud to continually reward
Aqua’s shareholders with consistent and growing dividends.”
Aqua America is one of the largest U.S.-based, publicly traded
water utilities and serves nearly 3 million people in Pennsylvania,
Ohio, North Carolina, Illinois, Texas, New Jersey, Indiana and
Virginia. Aqua America is listed on the New York Stock Exchange
under the ticker symbol WTR. Visit AquaAmerica.com for more
information.
WTRF
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version on businesswire.com: http://www.businesswire.com/news/home/20160802006614/en/
Aqua AmericaBrian DingerdissenInvestor RelationsO:
610-645-1191BJDingerdissen@AquaAmerica.comorDonna AlstonManager,
CommunicationsO: 610-645-1095M:
484-368-4720DPAlston@AquaAmerica.com
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