California Water Service Group to Issue Quarterly Dividend
- By Jacob Maslow
California Water Service Group (CWT), which provides water utility to California, New Mexico, Washington and Hawaii, announced a quarterly dividend. Shareholders of record on Monday, Nov. 12 will be paid a dividend of 0.1875 cents per share on Friday, Nov. 23. This equates to a dividend yield of 1.655% and an annualized dividend of 75 cents.
Over the last three years, the company has increased its dividend by an average of 3.5% annually and has increased its dividend every year for the last 50 years. A 60% payout ratio means that all dividends are sufficiently covered by the company's earnings.
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announced that it would provide resources to assist in water line repairs and other relief efforts in California's Camp Fire, met expectations with its third-quarter earnings. California Water Service Group posted 72 cents earnings per share on the quarter, meeting Thomson Reuters' consensus estimate. The company earned 70 cents earnings per share during the same period last year.
