American Water Announces Increased Quarterly Dividend
May 01 2024 - 10:22AM
Business Wire
Cash dividend payable in the second quarter of
2024
American Water Works Company, Inc. (NYSE: AWK) announced today
that its board of directors declared a quarterly cash dividend
payment of $0.7650 per share of common stock, an increase of 8.1
percent.
“American Water continues to be an industry leader in dividend
growth, which is a result of our successful execution of key
strategic initiatives,” said M. Susan Hardwick, President and Chief
Executive Officer, American Water. “We recognize the value of our
dividend and the role it plays in delivering exceptional
shareholder value.”
The company expects to continue its dividend growth within a 7
to 9 percent range over the long term, with a target dividend
payout ratio of between 55 and 60 percent of earnings.
The increased quarterly dividend will be payable on June 3,
2024, to all shareholders of record as of May 14, 2024.
American Water offers a dividend reinvestment and direct stock
purchase plan called American Water Stock Direct (the “Plan”),
which enables shareholders to reinvest cash dividends and purchase
additional shares of American Water common stock without any
brokerage commissions or service charges. Shareholders and other
persons may obtain a copy of the Plan prospectus and an enrollment
form by contacting Equiniti Trust Company, LLC at 888-556-0423,
visiting Equiniti’s website at
equiniti.com/us/ast-access/individuals, contacting American Water’s
Investor Relations department at 856-566-4005 or by visiting the
Investor Relations webpage located at ir.amwater.com/resources.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities. The offer is being
made solely through the Plan prospectus.
About American Water
American Water (NYSE: AWK) is the largest regulated water and
wastewater utility company in the United States. With a history
dating back to 1886, We Keep Life Flowing® by providing safe,
clean, reliable and affordable drinking water and wastewater
services to more than 14 million people with regulated operations
in 14 states and on 18 military installations. American Water’s
6,500 talented professionals leverage their significant expertise
and the company’s national size and scale to achieve excellent
outcomes for the benefit of customers, employees, investors and
other stakeholders.
For more information, visit amwater.com and join American Water
on LinkedIn, Facebook, X and Instagram.
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version on businesswire.com: https://www.businesswire.com/news/home/20240430946165/en/
Investor: Aaron Musgrave Vice President, Investor
Relations (856) 955-4029 aaron.musgrave@amwater.com Media:
Maureen Duffy Senior Vice President, Communications and External
Affairs (856) 955-4163 maureen.duffy@amwater.com
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