Pennichuck Corporation Announces Second Quarter 2010 Common Dividend
May 05 2010 - 12:01PM
Marketwired
Pennichuck Corporation (NASDAQ: PNNW) today announced that the
Company's Board of Directors declared a quarterly dividend of $0.18
per share payable on June 1, 2010 to shareholders of record as of
May 17, 2010. This quarterly dividend remains unchanged from the
previous quarter and results in an annualized dividend rate of
$0.72 per share.
Duane C. Montopoli, Pennichuck's President and Chief Executive
Officer, noted that the Company's next dividend reinvestment date
under its Dividend Reinvestment and Common Stock Purchase Plan is
June 1, 2010. Shareholders wishing to purchase additional shares
under that plan should ensure that their payment is received by the
Company's transfer agent (American Stock Transfer & Trust
Company) no later than May 28, 2010. Additional information about
the Company's Dividend Reinvestment and Common Stock Purchase Plan
is contained in the Plan prospectus which is available upon request
from American Stock Transfer & Trust Company or online at
www.amstock.com.
Pennichuck Corporation is a holding company involved principally
in the supply and distribution of potable water in New Hampshire
through its three regulated water utilities. Its non-regulated,
water-related activities include operations and maintenance
contracts with municipalities and private entities in New Hampshire
and Massachusetts. The Company's real estate operations are
involved in the ownership, management and commercialization of real
estate in southern New Hampshire.
Pennichuck Corporation's common stock trades on the Nasdaq
Global Market under the symbol "PNNW." The Company's website is at
www.pennichuck.com.
This news release may contain certain forward-looking statements
with respect to the financial condition, results of operations and
business of Pennichuck Corporation. Forward-looking statements are
based on current information and expectations available to
management at the time the statements are made, and are subject to
various factors, risks and uncertainties that could cause actual
results to differ materially from those expressed or implied by
such forward-looking statements. These factors include, but are not
limited to, the implications of the New Hampshire Supreme Court's
March 25, 2010 decision affirming the eminent domain order of the
New Hampshire Public Utilities Commission in favor of the City of
Nashua, New Hampshire; the impact of an eminent domain taking by
Nashua on business operations and net assets; legislation and/or
regulation and accounting factors affecting Pennichuck
Corporation's financial condition and results of operations; the
availability and cost of capital, including the impact on our
borrowing costs of changes in interest rates; and the impact of
weather. Investors are encouraged to access Pennichuck
Corporation's annual and quarterly periodic reports filed with the
Securities and Exchange Commission for financial and business
information regarding Pennichuck Corporation, including a more
detailed discussion of these and other risks and uncertainties that
could affect Pennichuck Corporation's forward-looking statements.
We undertake no obligation to update or revise publicly any
forward-looking statement.
For More Information, Contact: Thomas C. Leonard Senior
Vice President and Chief Financial Officer Phone: 603-913-2300 Fax:
603-913-2305
Pennichuck (NASDAQ:PNNW)
Historical Stock Chart
From Sep 2024 to Oct 2024
Pennichuck (NASDAQ:PNNW)
Historical Stock Chart
From Oct 2023 to Oct 2024