SAN DIMAS, Calif., May 1, 2002 -- At its regular quarterly meeting, the Board of Directors of American States Water Co. approved payment of a quarterly dividend of $0.325 per share on the Common Shares of the company.
Dividends on the Common Shares will be payable on June 1, 2002 to shareholders of record at the close of business on May 8, 2002.
The Board also approved a three-for-two stock split payable on June 7, 2002. The split will entitle shareholders of record on May 15, 2002 to receive one additional share of common stock for every two shares held on that date. Fractional shares will be paid in cash.
As a result of the split, the total number of shares of common stock outstanding will increase from approximately 10.1 million to approximately 15.2 million shares.
The company will release its second quarter results before market on Tuesday, May 7, 2002. The company will host a conference call on Tuesday, May 7, 2002 at 11:00 a.m. Pacific Standard Time (PST), during which management will be making a brief presentation focusing on the company's results, strategies, and operating trends.
American States Water Company is a holding company that, through its subsidiaries, provides water service to 1 out of 30 Californians located within 75 communities throughout 10 counties in Northern, Coastal and Southern California and to approximately 11,000 customers in the city of Fountain Hills, Arizona and portions of Scottsdale, Arizona.
The company distributes electricity to approximately 22,000 customers in the Big Bear recreational area of California and contracts with various municipalities in both California and Arizona to provide services to an additional 90,000 customers.