It looks like the water business has been very good indeed for the California American Water Company (Cal-Am) and their parent corporation, American Water Works Co.(AWW) according to an article in the January 8, 2000 edition of the Monterey Herald. According to the Herald, AWW increased its quarterly dividend 5 percent, going from 21 1/2 cents per share to 22 1/2 cents per share. This equates to a 5 percent increase. Shareholders of record as of January 28 will get their dividend on Feb 15.
The Herald quoted AWW President and CEO J.James Barr as saying this payment was the 25th consecutive year the company's common dividend rate has been increased. They also said that a preferred dividend was also declared.
Over the past 30 years, Cal-Am has raised rates 17 times.
Written by Ken Ekelund, based on multiple sources.
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Water Over the Dam