Connecticut Water Service, Inc. Declares Dividends
CLINTON, Conn., Jan. 25, 2013 (GLOBE NEWSWIRE) -- Connecticut Water Service,
Inc. (Nasdaq:CTWS) today announced that its Board of Directors declared a
quarterly cash dividend of $0.2425 per common share payable on March 15, 2013,
for shareholders of record as of March 1, 2013. This quarterly dividend
remains unchanged from the previous quarter and represents an annualized
dividend of $0.97 per share. The Company's annual dividend yield at the stock
market closing price on January 24, 2013, was nearly 3.3%. Connecticut Water
has paid quarterly dividends on its common stock since its founding in 1956
without interruption or reduction and has increased dividend payments for each
of the last 43 years.
Connecticut Water's Board of Directors also declared a quarterly cash dividend
of $0.20 per share on Preferred A shares payable on April 15, 2013, for
shareholders of record as of April 1, 2013, and a quarterly cash dividend of
$0.225 on Preferred 90 shares payable on May 3, 2013, for shareholders of
record as of April 19, 2013.
The Company has a Dividend Reinvestment and Common Stock Purchase Plan (DRIP)
that is open to registered shareholders and customers and employees of the
Company's regulated water utility subsidiaries. Additional information about
the DRIP and a plan prospectus are available online at the Company's Web site,
www.ctwater.com, or upon request.
The Board also set the date, time and location of the 2013 Annual Meeting of
Shareholders. The Annual Meeting will be held on Thursday, May 9, 2013, at
2:00 p.m. at the Madison Beach Hotel in Madison, Connecticut. Eric W.
Thornburg, Connecticut Water's Chairman, President and CEO, noted that the
2013 Annual Meeting will mark the Company's first Annual Meeting since its
acquisition of the Biddeford and Saco Water Company in Maine last month. He
stated, "We look forward to holding this Annual Meeting as the fastest growing
water utility company in New England. The addition of Maine Water and
Biddeford and Saco water companies in 2012 grew our customer base by 35% to
approximately 122,000 customers in New England where we now serve
approximately 400,000 people."
Connecticut Water Service's regulated water utility companies, The Connecticut
Water Company, The Maine Water Company, and the Biddeford and Saco Water
Company are committed to delivering life sustaining, high quality water
service to families and communities while providing a fair return to the
The Connecticut Water Service, Inc. logo is available at
This news release may contain certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 regarding the
Company's results of operations, financial position and long-term strategy.
These forward-looking statements are based on current information and
expectations, and are subject to risks and uncertainties discussed in our
filings with the Securities and Exchange Commission, which could cause the
Company's actual results to differ materially from expected results. We
undertake no obligation to update or revise forward-looking statements,
whether as a result of new information, future events, or otherwise.
CONTACT: Daniel J. Meaney, APR
Director of Corporate Communications
Connecticut Water Service, Inc.
93 West Main Street, Clinton, CT 06413-1600
Connecticut Water Service, Inc. Logo
Press spacebar to pause and continue. Press esc to stop.