CLINTON, Conn., Jan. 22, 2016 (GLOBE NEWSWIRE) -- Connecticut Water Service, Inc. (Nasdaq:CTWS) today announced that its Board of Directors declared a quarterly cash dividend of $0.2675 per common share payable on March 15, 2016, for shareholders of record as of March 1, 2016. This quarterly dividend remains unchanged from the previous quarter and represents an annualized dividend of $1.07 per share. The Company’s annual dividend yield at the stock market closing price on January 21, 2016, was more than 2.7%. 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 45 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 14, 2016, for shareholders of record as of March 31, 2016, and a quarterly cash dividend of $0.225 on Preferred 90 shares payable on May 2, 2016, for shareholders of record as of April 18, 2016.
The Company’s Dividend Reinvestment Plan and Common Stock Purchase Plan (DRIP) is available to registered shareholders, employees, and residential customers of the Connecticut Water and Maine Water companies. Other investors who wish to participate in the DRIP should contact investor relations at the Company for more information. Additional information about the DRIP and the plan prospectus are available online at the Company’s investor relations website, http://ir.ctwater.com/, or upon request.
Annual Meeting of Shareholders
The Board also announced the date of the 2016 Annual Meeting of Shareholders. The Annual Meeting will be held on Friday, May 13, 2016, at 2 p.m. at the Madison Beach Hotel in Madison, Connecticut.
Connecticut Water Service, Inc. is the largest publicly traded water company based in New England. Through its wholly-owned public water utility subsidiaries, The Connecticut Water Company and The Maine Water Company, the Company provides drinking water to approximately 122,000 customers, or about 400,000 people, in 77 municipalities throughout the states of Connecticut and Maine.
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.
News media contact: Daniel J. Meaney, APR Director of Corporate Communications Connecticut Water Service, Inc. 93 West Main Street, Clinton, CT 06413-1600 (860) 664-6016
Source:Connecticut Water Service, Inc.