21st Cash Dividend Increase in 20 Years
BRYN MAWR, Pa.--(BUSINESS WIRE)--
Aqua America's (NYSE: WTR) Board of Directors today declared a dividend
increase of $0.01 per share from $0.155 per share to $0.165 per share
for the December 1, 2011 quarterly dividend, to all shareholders of
record on November 17, 2011. This represents a 6.5 percent increase to
the quarterly dividend. This increase is equivalent to $0.04 above the
company's current annualized dividend rate of $0.62 to $0.66.
The Board also declared the regular $0.155 per share quarterly common
stock cash dividend to be paid on September 1, 2011 to shareholders of
record on August 17, 2011. Aqua has paid a consecutive quarterly
dividend for more than 65 years.
This is the company's 21st dividend increase in 20 years and as a result
of the December 1, 2011 increase the compound growth rate of the
annualized dividend rate over the 20 years has been 6.4 percent. Aqua
America Chairman and CEO Nicholas DeBenedictis said, "The Board approved
this action after a strategic session to review the company's five-year
business plan. This decision demonstrates the Board's continued
confidence in the long-term growth potential of our business model."
Aqua America is one of the largest U.S.-based, publicly-traded water
utilities and serves almost 3 million residents in Pennsylvania, Ohio,
Illinois, Texas, New Jersey, Indiana, Virginia, Florida, North Carolina,
Maine, New York, and Georgia. Aqua America is listed on the New York
Stock Exchange under the ticker symbol WTR.
This release contains forward looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995, including, among
others, reference to the company's confidence in its long-term growth
business model. There are important factors that could cause actual
results to differ materially from those expressed or implied by such
forward-looking statements including: general economic business
conditions, unfavorable weather conditions, the success of certain cost
containment initiatives, changes in regulations or regulatory treatment,
availability and the cost of capital, the success of growth initiatives,
and other factors discussed in our Annual Report on Form 10-K for the
fiscal year ended December 31, 2010 which is on file with the SEC. We
undertake no obligation to publicly update or revise any forward-looking
statement.
WTRF
Aqua America, Inc.
Brian Dingerdissen
Director, Investor
Relations
610-645-1191
bjdingerdissen@aquaamerica.com
or
Donna
Alston
Director, Communications
610-645-1095
dpalston@aquaamerica.com
Source: Aqua America, Inc.
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