American States Water Co (AWR) to Issue Dividend Increase – $0.28 Per Share

American States Water Co (NYSE:AWR) announced a quarterly dividend on Thursday, August 2nd, RTT News reports. Shareholders of record on Wednesday, August 15th will be given a dividend of 0.275 per share by the utilities provider on Friday, August 31st. This represents a $1.10 annualized dividend and a yield of 1.82%. The ex-dividend date is Tuesday, August 14th. This is a positive change from American States Water’s previous quarterly dividend of $0.26.

American States Water has increased its dividend by an average of 6.2% annually over the last three years and has increased its dividend annually for the last 63 consecutive years. American States Water has a payout ratio of 64.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect American States Water to earn $1.94 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 56.7%.

AWR stock traded down $0.02 during midday trading on Friday, hitting $60.43. 174,500 shares of the company’s stock were exchanged, compared to its average volume of 262,830. The company has a quick ratio of 1.05, a current ratio of 1.09 and a debt-to-equity ratio of 0.66. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 35.23, a price-to-earnings-growth ratio of 6.92 and a beta of 0.27. American States Water has a 1-year low of $47.53 and a 1-year high of $61.66.

American States Water (NYSE:AWR) last posted its earnings results on Monday, August 6th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.03). American States Water had a return on equity of 11.55% and a net margin of 14.18%. The business had revenue of $106.90 million for the quarter, compared to analyst estimates of $114.80 million. During the same period last year, the business earned $0.62 EPS. American States Water’s revenue was down 5.6% compared to the same quarter last year. sell-side analysts anticipate that American States Water will post 1.72 EPS for the current year.

A number of equities research analysts have recently weighed in on AWR shares. Zacks Investment Research raised American States Water from a “sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. Wells Fargo & Co dropped their price objective on American States Water from $54.00 to $52.00 and set an “underperform” rating for the company in a research note on Friday, August 24th.

In other news, Director Lloyd E. Ross sold 500 shares of American States Water stock in a transaction on Tuesday, June 5th. The stock was sold at an average price of $56.38, for a total value of $28,190.00. Following the completion of the sale, the director now directly owns 50,207 shares of the company’s stock, valued at $2,830,670.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James F. Mcnulty sold 8,897 shares of American States Water stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $60.81, for a total value of $541,026.57. Following the completion of the sale, the director now directly owns 18,278 shares of the company’s stock, valued at $1,111,485.18. The disclosure for this sale can be found here. Insiders sold 12,824 shares of company stock valued at $774,453 over the last ninety days. Insiders own 1.41% of the company’s stock.

About American States Water

American States Water Company, through its subsidiaries, provides water and electric services to residential, industrial, and other customers in the United States. It operates through three segments: Water, Electric, and Contracted Services. The company purchases, produces, distributes, and sells water, as well as distributes electricity.

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Dividend History for American States Water (NYSE:AWR)

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