SJW Group Declares Dividend and Announces 2024 Dividend Increase
25 Gennaio 2024 - 3:02PM
Business Wire
- 5.3% increase in annual dividend
- 56 years of annual dividend increases
The Board of Directors of SJW Group (NYSE: SJW) has declared a
quarterly cash dividend of $0.40 per share payable on March 1,
2024, to all shareholders of record at the close of business on
Feb. 5, 2024.
The March dividend will represent a 5.3% increase over the
dividend paid in December 2023. The 2024 annualized dividend will
be $1.60 per share compared with $1.52 per share in 2023.
“Today’s action by our board to increase the annual dividend
demonstrates its continuing confidence in SJW Group’s mission and
employees,” said President, Chief Executive Officer and Chair of
the Board Eric W. Thornburg. “Our team of trusted, passionate and
socially responsible professionals is committed to delivering
life-sustaining, high-quality water and exceptional service while
protecting the environment, enhancing our communities and
delivering value for shareholders.”
Dividends have been paid on SJW Group’s and its predecessor’s
common stock for more than 80 years, and the annual dividend amount
has increased in each of the past 56 years, placing SJW Group in an
exclusive group of companies on the New York Stock Exchange.
About SJW Group
SJW Group is among the largest investor-owned pure-play water
and wastewater utilities in the United States, providing
life-sustaining and high-quality water service to about 1.5 million
people. SJW Group’s locally led and operated water utilities — San
Jose Water Company in California, The Connecticut Water Company in
Connecticut, The Maine Water Company in Maine, and SJWTX, Inc. (dba
The Texas Water Company) in Texas — possess the financial strength,
operational expertise, and technological innovation to safeguard
the environment, deliver outstanding service to customers and
provide opportunities to employees. SJW Group remains focused on
investing in its operations, remaining actively engaged in its
local communities, and delivering continued sustainable value to
its shareholders. For more information about SJW Group, please
visit www.sjwgroup.com.
Forward-Looking Statements
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995, as
amended. Some of these forward-looking statements can be identified
by the use of forward-looking words such as “believes,” “expects,”
“estimates,” “anticipates,” “intends,” “seeks,” “plans,”
“projects,” “may,” “should,” “will,” or the negative of those words
or other comparable terminology. These forward-looking statements
are only predictions and are subject to risks, uncertainties, and
assumptions that are difficult to predict.
These forward-looking statements involve a number of risks,
uncertainties and assumptions including, but not limited to, the
following factors: (1) the effect of water, utility, environmental
and other governmental policies and regulations, including
regulatory actions concerning rates, authorized return on equity,
authorized capital structures, capital expenditures and other
decisions; (2) changes in demand for water and other services; (3)
unanticipated weather conditions and changes in seasonality
including those affecting water supply and customer usage; (4) the
effect of the impact of climate change; (5) unexpected costs,
charges or expenses; (6) our ability to successfully evaluate
investments in new business and growth initiatives; (7)
contamination of our water supplies and damage or failure of our
water equipment and infrastructure; (8) the risk of work stoppages,
strikes and other labor-related actions; (9) catastrophic events
such as fires, earthquakes, explosions, floods, ice storms,
tornadoes, hurricanes, terrorist acts, physical attacks,
cyber-attacks, epidemic, or similar occurrences; (10) changes in
general economic, political, business and financial market
conditions; (11) the ability to obtain financing on favorable
terms, which can be affected by various factors, including credit
ratings, changes in interest rates, compliance with regulatory
requirements, compliance with the terms and conditions of our
outstanding indebtedness, and general market and economic
conditions; and (12) legislative, and general market and economic
developments. The risks, uncertainties and other factors may cause
the actual results, performance or achievements of SJW Group to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements.
Results for a quarter are not indicative of results for a full
year due to seasonality and other factors. Other factors that may
cause actual results, performance or achievements to materially
differ are described in SJW Group’s most recent Annual Report on
Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on
Form 8-K filed with the SEC. Forward-looking statements are not
guarantees of performance, and speak only as of the date made. SJW
Group undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20240125944445/en/
SJW Group Andrew F. Walters Chief Financial Officer and
Treasurer 408.279.7818 Andrew.Walters@sjwater.com
Daniel J. Meaney, APR Director of Investor Relations
860.664.6016 Daniel.Meaney@ctwater.com
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