CLINTON, Conn., Feb. 29, 2012 (GLOBE NEWSWIRE) -- Connecticut Water Service, Inc. (Nasdaq:CTWS) today announced that it has been added to the US Broad Dividend Achievers™ Index. Connecticut Water was added to the US Broad Dividend Achievers Index after the close of trading on January 31, 2012, when Indxis, Inc., the index service unit of Mergent, Inc., reconstituted its equity indexes.
According to Indxis's news release, "Mergent's Dividend Achievers indices are a highly regarded series of indices that track companies with strong long-term dividend growth." According to Mergent, Inc. Dividend Achievers are companies that have increased annual regular dividends for at least the past 10 consecutive years and have met specific liquidity screening criteria.
According to Eric W. Thornburg, Connecticut Water's President and CEO, being added to the US Broad Dividend Achievers Index reflects the Company's long history of increasing dividend payments. Mr. Thornburg states, "Nearly two-thirds of our shareholders are retail shareholders who rely on a consistent dividend to fund retirement, educate their children, or simply make ends meet. Over the five year period from January 1, 2007, through December 31, 2011, Connecticut Water delivered a total return to shareholders of 44%, which is the result of stock price gains combined with dividend increases."
Connecticut Water has paid dividends on its common stock each quarter since its founding in 1956 without interruption or reduction and has increased dividend payments for each of the last 42 years. The Company's Dividend Reinvestment Plan and Common Stock Purchase Plan (DRIP) is available to registered shareholders, and customers and employees of the Company's regulated water utility subsidiaries. Additional information about the DRIP and a plan prospectus are available online at the Company's Web site, http://www.ctwater.com.
Connecticut Water will hold its place in the Dividend Achievers Index until Indxis, Inc. reconstitutes its indexes in January 2013.
About Connecticut Water Service, Inc.
Connecticut Water Service, Inc. is the largest publicly traded water company based in New England. Through its wholly-owned public water utility subsidiaries, The Connecticut Water Company and The Maine Water Company, the Company provides drinking water to 106,000 customers, or about 350,000 people, throughout the states of Connecticut and Maine.
The Connecticut Water Service, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=2893
For more information about Indxis, Inc. visit: www.Indxis.com
For more information about Mergent, Inc. visit: www.mergent.com
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.