Aqua America 10 Percent Dividend Increase and Four-for-Three Stock Split Set for December 1
BRYN MAWR, Pa., Nov 30, 2005 (BUSINESS WIRE) -- Aqua America, Inc. (NYSE:WTR) is reminding shareholders that the 10 percent cash dividend increase and the four-for-three stock split approved by its Board of Directors on August 2, 2005, are effective tomorrow, December 1, 2005 to shareholders of record as of November 17, 2005.
The December 1, 2005 dividend payment will increase from $0.13 to $0.1425 per share on a pre-split basis. On an annualized basis, the dividend increase is equivalent to a $0.05 increase above the current (pre-split) annual dividend rate of $0.52 to $0.57 per share.
The stock split will be effected in the form of a four-for-three (33 1/3 percent) stock distribution. As a result of the stock split, the new (post-split) quarterly cash dividend rate will be $0.1069 per share on the increased number of shares resulting from the stock distribution, or $0.4276 per share on an annualized basis. Shares will begin trading on a post-split basis on December 2, 2005.
The cash dividend increase is the company's 15th in 14 years. The stock split is the company's sixth in nine years.
Aqua America, Inc. is the largest U.S.-based publicly-traded water utility, serving more than 2.5 million residents in Pennsylvania, Ohio, North Carolina, Illinois, Texas, Florida, New Jersey, Indiana, Virginia, Maine, Missouri, New York, and South Carolina. Aqua America is listed on both the New York and Philadelphia Stock Exchanges under the ticker symbol WTR.
WTRF
SOURCE: Aqua America, Inc.
Aqua America, Inc.
Cheryl Hansen, 610-645-1084
clhansen@aquaamerica.com
or
Donna Alston, 610-645-1095
dpalston@aquaamerica.com
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