sjw corp (SJW) Key Developments
Public Utility Commission of Texas Approves Final Order of SJWTX, Inc.’s 2013 Rate Case
Dec 19 14
SJW Corp. announced that the Public Utility Commission of Texas voted unanimously to approve a final order deciding SJWTX, Inc.’s 2013 rate case. SJWTX, a wholly owned subsidiary of SJW Corp., doing business as Canyon Lake Water Service Company, is a public utility in the business of providing water and wastewater service to approximately 36,000 residents in Comal and Blanco Counties. As approved, the final decision will settle all issues with the Coalition for Equitable Water Rates, the PUCT and the Office of Public Utility Counsel regarding the 2013 rate case for all customers located outside the City of Bulverde’s jurisdiction. The decision authorizes the requested average system-wide rate increase to be phased-in annually beginning January 1, 2015 through January 1, 2018. The decision further provides that no refunds or credits will be owed to customers for application rates in effect between December 2, 2013 and December 31, 2014. It also allows for the filing of additional applications to recover increases in purchased water supply costs for such customers. As part of the settlement, SJWTX has the option to file a general rate case application after September 1, 2017 to establish a new rate increase. If the Company elects this option prior to December 31, 2017, the January 1, 2018 scheduled rate increase in the decision will not become effective. SJWTX had reached a separate settlement in February 2014 with the City of Bulverde covering approximately 1,500 residents.
SJW Corp. Presents at NYSSA 18th Annual Water Conference, Dec-04-2014 12:30 PM
Nov 19 14
SJW Corp. Presents at NYSSA 18th Annual Water Conference, Dec-04-2014 12:30 PM. Venue: NYSSA Conference Center, 1540 Broadway, Suite 1010, (entrance on 45th Street), New York, NY 10036, United States. Speakers: James Patrick Lynch, Chief Financial Officer and Treasurer.
SJW Corp. Declares Quarterly Dividend, Payable on December 1, 2014
Oct 29 14
The directors of SJW Corp. declared a quarterly dividend on common stock of $0.1875 per share. The dividend is payable on December 1, 2014 to shareholders of record on November 10, 2014.
SJW Corp. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014
Oct 29 14
SJW Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported operating revenue of $125,430,000 against $85,238,000 a year ago. Operating income was $59,114,000 against $19,346,000 a year ago. Income before income taxes was $54,097,000 against $14,753,000 a year ago. Net income was $38,366,000 against $8,950,000 a year ago. Diluted earnings per share were $1.88 against basic and diluted earnings per share of $0.44 a year ago.
For the nine months, the company reported operating revenue of $250,382,000 against $209,607,000 a year ago. Operating income was $77,289,000 against $42,056,000 a year ago. Income before income taxes was $65,502,000 against $29,631,000 a year ago. Net income was $46,118,000 against $17,707,000 a year ago. Diluted earnings per share were $2.26 against $0.89 a year ago.
SJW Corp. to Report Q3, 2014 Results on Oct 29, 2014
Oct 16 14
SJW Corp. announced that they will report Q3, 2014 results After-Market on Oct 29, 2014