California Water Service announces 30c regular dividend and special dividend 4c

At its meeting on January 29, the California Water Service (CWT) Group Board declared the company’s 320th consecutive quarterly dividend in the amount of 30c per common share, this reflects an 08c annual increase that is expected to yield an annual dividend of $1.20. In addition, the Board declared a one-time special dividend in the amount of 4c per common share. Both the quarterly dividend and the special one-time dividend will be payable on February 21 to stockholders of record as of the close of business on February 10. “We are pleased to be in a position to increase our annual dividend for the 58th consecutive year. Furthermore, we believe that a special, one-time dividend of $0.04 per share is appropriate given our decision to moderate our 2023 annual dividend due to the delay in our 2021 General Rate Case. We believe our 2025 anticipated annual dividend will bring us in line with market expectations, and we remain committed to providing value to all of our stakeholders.”