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SAN JOSE, Calif. - The California Water Service Group (NYSE:CWT), a prominent utility company, announced on Monday the declaration of its 321st consecutive quarterly dividend. The Board of Directors confirmed that shareholders would receive $0.30 per common share, with the dividend payable on May 23, 2025, to those on record as of May 12, 2025. According to InvestingPro data, CWT has maintained dividend payments for 55 consecutive years and currently offers a 2.38% dividend yield, reflecting its commitment to shareholder returns.
This consistent dividend payment underscores the company’s commitment to providing value to its investors and marks a continued tradition in its financial practices. California Water Service Group, known for operating regulated utilities across several states, serves more than 2.1 million people with water and wastewater services in California, Hawaii, New Mexico, Washington, and Texas. With a market capitalization of $3.02 billion and annual revenue of $1.04 billion, CWT maintains a GOOD overall financial health score according to InvestingPro analysis.
The company’s common stock is traded on the New York Stock Exchange under the ticker symbol CWT. Their operations span both regulated and non-regulated sectors within the utility industry, providing essential services to a substantial customer base.
While the press release included forward-looking statements regarding the timing of the dividend payment, it also cautioned investors about the inherent risks and uncertainties of such predictions. The company highlighted that forward-looking statements are based on assumptions and estimates that, while believed to be reasonable, are subject to a range of economic and business risks that could cause actual results to differ materially. Based on InvestingPro’s Fair Value analysis, the stock appears slightly overvalued at current levels. Discover more insights and 12+ additional ProTips with an InvestingPro subscription, including the comprehensive Pro Research Report available for CWT and 1,400+ other US stocks.
Investors are advised not to place undue reliance on these forward-looking statements, which reflect the company’s position only as of the date of the announcement. The California Water Service Group maintains a policy of not updating forward-looking statements with new information or subsequent events unless required by law.
This dividend announcement is based on a press release statement from the California Water Service Group and does not include any speculative or promotional content. It is intended to provide shareholders and potential investors with the latest factual information regarding the company’s financial distributions.
In other recent news, California Water Service Group reported its Q4 2024 earnings, surpassing expectations with an earnings per share (EPS) of $0.33 compared to the forecasted $0.23. The company’s revenue for the quarter reached $222.2 million, slightly higher than the anticipated $214.77 million. Additionally, the annual operating revenue for 2024 grew to $1 billion, a significant increase from $794.6 million in 2023, with net income rising by 267.6% to $190.8 million. In analyst updates, Seaport Global Securities upgraded California Water Service Group’s stock from Neutral to Buy, citing the company’s rate base growth and discounted valuation as key factors. The analyst expressed optimism for water utilities, noting the company’s steady earnings per share growth. California Water Service Group is also focusing on strategic mergers and acquisitions, particularly in the Texas market, to expand its service territories. The company has been actively investing in infrastructure improvements, with capital investments in 2024 reaching a record $471 million. These developments reflect California Water Service Group’s ongoing efforts to strengthen its financial position and expand its operational footprint.
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