American Water Declares Quarterly Dividend
Cash dividend payable in the third quarter 2013
VOORHEES, N.J.--(BUSINESS WIRE)-- American Water Works Company, Inc. (AWK) announced today that its Board of Directors declared a quarterly cash dividend payment of $0.28 per common share, payable on Sept. 3, 2013, to all shareholders of record as of Aug. 19, 2013.
American Water is pleased to continue its tradition of declaring quarterly dividends for shareholders, said Jeff Sterba, president and CEO of American Water. Earlier this year, American Water raised its dividend 12 percent, which is consistent with American Waters dividend practice of linking dividend increases to earnings per share growth and target a payout ratio between 50 to 60 percent of net income. The company has increased its dividend every year since becoming publicly traded in 2008, demonstrating our commitment to striking the right balance between reinvestment in our regulated operations and cash dividend payments.
American Water offers a dividend reinvestment and direct stock purchase plan called American Water Stock Direct, which enables stockholders to reinvest cash dividends and purchase additional American Water common shares without any brokerage commissions or service charges. Stockholders and other persons may obtain a copy of the Plan prospectus and an enrollment form by contacting American Stock Transfer & Trust Company (AST) at 888-556-0423, visiting ASTs website at www.amstock.com, contacting American Waters Investor Relations at 877-310-7174 or by visiting the Investor Relations page at www.amwater.com.
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
Founded in 1886, American Water is the largest publicly traded U.S. water and wastewater utility company. With headquarters in Voorhees, N.J., the company employs approximately 6,700 dedicated professionals who provide drinking water, wastewater and other related services to an estimated 14 million people in more than 30 states and parts of Canada. More information can be found at www.amwater.com.
American Water Works Company, Inc.
Vice President, Investor Relations
Vice President, Communications
Source: American Water Works Company, Inc.Copyright Business Wire 2013