CLINTON, CONNECTICUT, Aug. 14, 2017 (GLOBE NEWSWIRE) -- Connecticut Water Service, Inc. (Nasdaq:CTWS) today announced that its Board of Directors declared a quarterly cash dividend of $0.2975 per common share payable on September 15, 2017, for shareholders of record as of September 1, 2017. This quarterly dividend is unchanged from the previous quarter and represents an annualized dividend of $1.19 per share. The Company’s annual dividend yield at the stock market closing price on August 11, 2017, was 2.2%. Connecticut Water has paid quarterly cash dividends on its common stock since its founding in 1956 without interruption or reduction and has increased dividend payments for each of the last 48 years.
The Company has a Dividend Reinvestment Plan and Common Stock Purchase Plan (DRIP) available to registered shareholders, and customers and employees of the Company’s regulated water utility subsidiaries. Additional information about the DRIP and a plan prospectus are available on the Investors page of the Company’s Web site (http://ir.ctwater.com) or upon request.
Connecticut Water’s Board of Directors also declared a quarterly cash dividend of $0.20 per share on Preferred A shares (CTWSO) payable on October 16, 2017, for shareholders of record as of October 2, 2017, and a quarterly cash dividend of $0.225 on Preferred 90 shares (CTWSP) payable on November 3, 2017, for shareholders of record as of October 20, 2017.
Connecticut Water Service, Inc. is the largest publicly traded water company based in New England. Through its regulated utility subsidiaries, CTWS serves more than 134,000 water customers, or more than 425,000 people in 80 communities across Connecticut and Maine, and more than 3,000 wastewater customers in Southbury, Connecticut.
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This news release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the Company’s results of operations, financial position and long-term strategy. These forward-looking statements are based on current information and expectations, and are subject to risks and uncertainties discussed in our filings with the Securities and Exchange Commission, which could cause the Company’s actual results to differ materially from expected results. We undertake no obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise.