Aug 15 2014
Connecticut Water Service Increases Dividend on Common Shares by 4 percent
Connecticut Water Service, Inc. (NASDAQ GS: CTWS) announced that the Company’s Board of Directors has approved an annualized dividend increase of 4 cents per common share, or 4.0%, above the current cash dividend. The quarterly cash dividend on common shares was increased to $0.2575 per quarter from $0.2475. The increased dividend will be effective with the dividend declared by the Board on common shares payable on September 16, 2014, for shareholders of record as of September 2, 2014. The Company’s dividend yield, based on an annual dividend of $1.03 at the stock market closing price on August 14, 2014, was approximately 3.2%.
Aug 11 2014
Connecticut Water Service Reports Six Month and Second Quarter Earnings
Connecticut Water Service, Inc. (NASDAQ GS: CTWS) announced net income of $10.5 million in the first six months of 2014. This was an increase of approximately 51% from the $6.9 million reported in the same period of 2013. Connecticut Water’s earnings per basic average share (EPS) in the first six months of 2014 was $0.96 compared to an EPS of $0.64 during the same period of 2013. The increase was largely attributable to the application of the Water Revenue Adjustment (WRA) in the six months ending June 30, 2014. The WRA allows the Company to reconcile actual water demands with the demands projected in the last general rate case through a rate adjustment. In 2013, the first year in which the WRA was available to the Company, WRA revenues for the first nine months of the year were recorded in the third quarter as provided for in an agreement with our regulators. Had the WRA revenues in 2013 been applied on a monthly basis, as is being done in 2014, the EPS for the six months ended June 30, 2013, would have been $0.77.
Jul 03 2014
Annual Water Quality Report Available from Connecticut Water
Connecticut Water’s latest water quality reports are available to customers and others who consume the water produced by the company’s sixty-six water systems across the state. The report summarizes water quality testing done in 2013 and includes information about the Company’s water systems, water quality test results, and source protection measures. Connecticut Water works closely with the Department of Public Health (DPH) to ensure that the water it provides to customers meets or is better than state and federal standards for drinking water. Customers who read the report can see that effort results in high quality water being delivered in our systems.
Jun 13 2014
Update on Construction Activity on Route 195 in Tolland
Beginning the week of June 16 water main installation will begin in the area near Goose Lane and continue west to the Tolland Town Green. The project is expected to be completed in October. The water main installation is part of an agreement between Connecticut Water and the Town to provide a back-up water supply to Tolland’s water system. This back-up supply will help to maintain reliable water service to customers of Tolland’s Main Water System with an uninterrupted flow of water to fire hydrants for public fire protection in the event that system’s sources, storage or water mains are out of service.
May 29 2014
Eric Thornburg of Connecticut Water honored by the Connecticut Yankee Council of the Boy Scouts of America
On Wednesday, May 28, the Boy Scouts of America, Connecticut Yankee Council, honored Eric W. Thornburg, President and CEO of Connecticut Water, and Michael Caron, Commissioner at Connecticut Public Utilities Regulatory Authority (PURA), with its ‘Good Scout Award.’ According to the Connecticut Yankee Council, the award honors individuals whose leadership in the energy, public utility and environmental industries build a better world for future generations.