Aqua America Declares 7 Percent Cash Dividend Increase
August 01 2017 - 4:06PM
Business Wire
The Board of Directors of Aqua America (NYSE: WTR) declared a
quarterly cash dividend of $0.2047 per share today, payable Sept.
1, 2017 to all shareholders of record on Aug. 16, 2017.
The Sept. 1, 2017 dividend will represent a $0.0134, or 7.0
percent increase, compared to the $0.1913 cash dividend the company
paid in June of this year. This marks the 27th dividend increase in
the past 26 years, and the company has paid a consecutive quarterly
cash dividend for more than 72 years. Following the increase, the
annualized dividend rate will be $0.8188 per share. The board’s
stated long-term targeted dividend payout ratio continues to be in
the range of 60 to 70 percent of earnings from operations.
“We have a long commitment to providing safe and reliable
service to our valued customers while enhancing value for our
shareholders,” said Aqua America’s President and Chief Executive
Officer Christopher Franklin. “The board’s decision to increase the
quarterly dividend reflects its confidence in the company’s future
performance.”
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.
Forward-Looking Statements
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including, among others: the Company’s Board of Directors’
confidence in the Company’s future performance. There are important
factors that could cause actual results to differ materially from
those expressed or implied by such forward-looking statements
including: the company's continued ability to adapt itself for the
future and build value by fully optimizing company assets; general
economic business conditions; the company's ability to fund needed
infrastructure; housing and customer growth trends; unfavorable
weather conditions; the success of certain cost containment
initiatives; changes in regulations or regulatory treatment;
availability and access to capital; the cost of capital;
disruptions in the credit markets; the success of growth
initiatives; the company's ability to continue to deliver strong
results; municipalities willingness to privatize its water and/or
wastewater utilities; the company's ability to control expenses and
create and maintain efficiencies; the company’s success in its
Pennsylvania DSIC and rate filings; the company’s ability to
successfully complete its Pennsylvania DSIC and rate filings in a
timely manner; and other factors discussed in our Annual Report on
Form 10-K and our Quarterly Report on Form 10-Q, which is filed
with the Securities and Exchange Commission. For more information
regarding risks and uncertainties associated with Aqua America's
business, please refer to Aqua America's annual, quarterly and
other SEC filings. Aqua America is not under any obligation - and
expressly disclaims any such obligation - to update or alter its
forward-looking statements whether as a result of new information,
future events or otherwise.
WTRF
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version on businesswire.com: http://www.businesswire.com/news/home/20170801006666/en/
Aqua AmericaBrian DingerdissenInvestor RelationsO:
610.645.1191BJDingerdissen@AquaAmerica.comorStacey HajdakMarketing
& CommunicationsO: 610.520.6309SMHajdak@AquaAmerica.com
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