CONNECTICUT
WATER SERVICE, INC. ANNOUNCES DIVIDENDS
Clinton,
Connecticut, January 11, 2006 — Connecticut
Water Service Inc. (NASDAQ:CTWS) Board of Directors approved
a quarterly common stock dividend of $.2125 per share. The
record date is March 1, 2006 and the payable date is March
15, 2006..
Dividends
are also declared on the Company’s preferred stock as
follows.
- Preferred
A (not publicly traded), quarterly dividend of $.20 per
share, record; date is April 3, 2006 and payable date is
April 17, 2006.
- Preferred
90 (NASDAQ:CTWSP), quarterly dividend of $.225 per share;
record date is April 12, 2006 and payable date is April
26, 2006.
###
For More
Information:
Michele
G. DiAcri
Corporate Secretary
Connecticut Water Service, Inc.
93 West Main Street
Clinton, CT 06413-1600
800.428.3985, Ext. 3015
mdiacri@ctwater.com
This
press release may contain certain forward-looking statements
regarding the Company’s results of operations and financial
position. These forward-looking statements are based on current
information and expectations, and are subject to risks and
uncertainties, which could cause the Company’s actual
results to differ materially from expected results.
Our
water companies are subject to various federal and state regulatory
agencies concerning water quality and environmental standards.
Generally, the water industry is materially dependent on the
adequacy of approved rates to allow for a fair rate of return
on the investment in utility plant. The ability to maintain
our operating costs at the lowest possible level while providing
good quality water service is beneficial to customers and
stockholders. Profitability is also dependent on the timeliness
of rate relief, when necessary, and numerous factors over
which we have little or no control, such as the quantity of
rainfall and temperature, industrial demand, financing costs,
energy rates, tax rates and stock market trends which may
affect the return earned on pension assets, and compliance
with environmental and water quality regulations. The profitability
of our other revenue sources is subject to the amount of land
we have available for sale and/or donation, the demand for
the land, the continuation of the current state tax benefits
relating to the donation of land for open space purposes,
regulatory approval of land dispositions, the demand for telecommunications
antenna site leases and the successful extensions and expansion
of our service contract work. We undertake no obligation to
update or revise forward-looking statements, whether as a
result of new information, future events, or otherwise.
. |