BRYN MAWR, Pa.--(BUSINESS WIRE)--
Aqua America, Inc. (NYSE: WTR) announced today that its Board of
Directors authorized a Share Buyback program of up to 1 million shares
to minimize share dilution through timely and orderly share repurchases.
"Aqua America's plan to repurchase company shares shows our commitment
to increasing shareholder value," said Chairman and CEO Nicholas
DeBenedictis. "We value the confidence our shareholders have in Aqua
America, and feel minimizing dilution is an important initiative for us
in the foreseeable future, given our strong cash generation from
operations and lack of a need for new equity."
Aqua reinitiated a previously approved 685,348-share buyback program in
2014, a total of which 560,000 shares have been purchased to date. This
program will be finalized in 2015 before the new 1 million-share
authorization is begun.
Aqua America is one of the largest U.S.-based, publicly traded water
utilities and serves nearly 3 million people in Pennsylvania, Ohio,
North Carolina, Illinois, Texas, New Jersey, Indiana and Virginia. Aqua
America is listed on the New York Stock Exchange under the ticker symbol
WTR. Visit AquaAmerica.com
for more information.
This release contains forward-looking statements within the meaning of
The Private Securities Litigation Reform Act of 1995. There are
important factors that could cause actual results to differ materially
from those expressed by such forward-looking statements, including the
successful implementation of the stock repurchase program and other
factors discussed in our Annual Report on Form 10-K, which is on file
with the Securities and Exchange Commission. For more information
regarding risks and uncertainties associated with Aqua America's
business, please refer to Aqua America's annual, quarterly and other SEC
filings. Aqua America is not under any obligation — and expressly
disclaims any such obligation — to update or alter its forward-looking
statements whether as a result of new information, future events or
otherwise.
WTRF
Aqua America, Inc.
Brian Dingerdissen
O: 610-645-1191
BJDingerdissen@AquaAmerica.com
Source: Aqua America, Inc.
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