Oct 15 2014
Maureen Westbrook Receives Leadership Award
Vice President of Customer and Regulatory Affairs at Connecticut Water, Maureen Westbrook, recently received the State Leadership Award from the New England Section of the American Water Works Association (NEWWA). The State Leadership Award recognizes the contributions made by an individual to their state water works association as well as the water profession in general.
Oct 03 2014
Informational Meeting on October 9 on Mansfield/UConn Pipeline Project
Connecticut Water has scheduled an informational meeting in Mansfield to discuss the status of the project to provide water to the Town of Mansfield and the University of Connecticut Storrs Campus. The Company has filed for various regulatory approvals for the project including a diversion permit application submitted to the Connecticut Department of Energy and Environmental Protection (DEEP) last April. The Company will also discuss plans for sequencing the pipeline construction and how their efforts will be coordinated with other construction work in the area once the necessary permits are secured.
Sep 18 2014
Informational Meeting on September 24 regarding Improvements to the Rockville Water Treatment Plant
Connecticut Water is holding a public information meeting in Vernon on September 24 to discuss plans for major treatment improvement at the Rockville Water Treatment Plant (RWTP). The RWTP is the Company’s oldest surface water treatment plant, and has been continuously serving customers in 10 northern Connecticut communities for nearly 45 years. The plant received significant upgrades during the 1980s and again in the late ’90s to meet increasingly stringent water quality standards required by the Safe Drinking Water Act.
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.