CLINTON, Conn., Jan. 27, 2012 (GLOBE NEWSWIRE) -- Connecticut Water Service, Inc. (Nasdaq:CTWS) today announced that its Board of Directors declared a quarterly cash dividend of $0.2375 per common share payable on March 15, 2012, for shareholders of record as of March 1, 2012. This quarterly dividend remains unchanged from the previous quarter and represents an annualized dividend of $0.95 per share. The Company's annual dividend yield at the stock market closing price on January 26, 2012, was 3.2%. Connecticut Water has paid quarterly dividends on its common stock since its founding in 1956 without interruption or reduction and has increased dividend payments for each of the last 42 years.
Connecticut Water's Board of Directors also declared a quarterly cash dividend of $0.20 per share on Preferred A shares payable on April 16, 2012, for shareholders of record as of April 2, 2012, and a quarterly cash dividend of $0.225 on Preferred 90 shares payable on May 4, 2012, for shareholders of record as of April 20, 2012.
The Company has a Dividend Reinvestment Plan and Common Stock Purchase Plan (DRIP) that is open to registered shareholders. Additional information about the DRIP and a plan prospectus are available online at the Company's Web site, www.ctwater.com, or upon request.
The Board also set the date, time and location of the 2012 Annual Meeting of Shareholders. The Annual Meeting will be held on Thursday, May 10, 2012, at 2:00 p.m. at Water's Edge in Westbrook, Connecticut. Eric W. Thornburg, Connecticut Water's Chairman, President and CEO, noted that the 2012 Annual Meeting will mark the Company's first Annual Meeting since its expansion into Maine earlier this month. He stated, "We look forward to holding this Annual Meeting as a regional water utility company with multi-state operations in New England. The addition of Maine Water to our Company grew our customer base by 18%, to 106,000 customers in New England where we now serve about 350,000 people."
Connecticut Water Service's two regulated water utility companies, The Connecticut Water Company and The Maine Water Company, are committed to delivering life sustaining, high quality water service to families and communities while providing a fair return to the Company's shareholders.
The Connecticut Water Service, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=2893
This news release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the Company's results of operations, financial position and long-term strategy. These forward-looking statements are based on current information and expectations, and are subject to risks and uncertainties discussed in our filings with the Securities and Exchange Commission, which could cause the Company's actual results to differ materially from expected results. We undertake no obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise.