SAN JOSE, Calif., Jan. 28, 2026 (GLOBE NEWSWIRE) -- To kick off its Centennial Celebration, California Water Service Group (NYSE:CWT) declared its 324th consecutive quarterly dividend in the amount of $0.3350 per common share, payable on February 20, 2026, to stockholders of record as of the close of business on February 9, 2026. The quarterly dividend increase follows the Board of Directors’ announcement of its intent to increase the annual dividend by 8% or $0.10 per common share to $1.34, compared to the ...

Core Viewpoint - California Water Service Group has agreed to purchase the remaining membership interests of BVRT Utility Holding Company, becoming the sole owner of its water and wastewater utilities in the Austin-San Antonio corridor [1] Group 1: Acquisition Details - The acquisition is subject to customary terms and conditions, including approval from the Public Utilities Commission of Texas and the Group Board [2] - The acquisition will enhance California Water Service Group's investment and operations in Texas, allowing for better integration of the BVRT team [5] Group 2: Expansion and Infrastructure - BVRT has been expanding its Texas footprint by building and enhancing water and wastewater infrastructure [1] - Camino Real Utility Company, a BVRT subsidiary, has received a water certificate to serve future customer connections in a 230-acre area in Caldwell County [3] - Camino Real currently provides wastewater service to 270 customers and has plans to extend its sewer main to serve a new development expected to include up to 5,000 dwelling units by 2036 [4] Group 3: Company Overview - California Water Service Group operates regulated utilities across multiple states, providing water and wastewater services to over 2.1 million people [6]

Core Viewpoint - California Water Service Group announced the promotion of Todd K. Peters to Vice President, Engineering and Thomas A. Scanlon to Vice President, Corporate Controller and Chief Accounting Officer, effective January 1, 2026 [1]. Group 1: Promotions and Leadership - Todd K. Peters has been with the company since 1993, holding various positions, most recently as Chief Engineering Officer. He holds a Bachelor of Science Degree in Civil Engineering from San Jose State University and is a licensed Professional Engineer in multiple states [2]. - Thomas A. Scanlon joined the company in 2010 and most recently served as Corporate Controller and Chief Accounting Officer. He holds a Bachelor of Science Degree in Finance from Marquette University and an MBA from the University of Illinois, and is a Certified Public Accountant [3]. - Chairman & CEO Martin A. Kropelnicki stated that the promotions recognize the contributions both individuals have made to the company's success [3][4]. Group 2: Company Overview - California Water Service Group is the parent company of regulated utilities providing water and wastewater services to over 2.1 million people across California, Hawaii, New Mexico, Washington, and Texas [5]. - The company's common stock trades on the New York Stock Exchange under the symbol "CWT" [5].

Core Viewpoint - California Water Service (Cal Water) has received authorization for interim rate adjustments of 3% across most service areas, effective January 1, 2026, as the California Public Utilities Commission (CPUC) reviews its 2024 General Rate Case (GRC) and Infrastructure Improvement Plan [1][2][3]. Group 1: Rate Adjustments - The CPUC's approval allows Cal Water to temporarily increase rates by 3% in most districts to support ongoing infrastructure investments necessary for providing safe and reliable water [1][4]. - The interim rates are a response to delays in the final decision of the rate case, which were not caused by Cal Water, and aim to mitigate the financial impact on customers [3][4]. Group 2: Company Background - California Water Service Group is the parent company of several regulated utilities, including California Water Service, and serves over 2.1 million people across multiple states [5]. - The company's common stock is traded on the New York Stock Exchange under the symbol "CWT" [5].

Core Viewpoint - H2O America announces the retirement of Eric W. Thornburg as non-executive chair of the board, effective January 31, 2026, after a distinguished career with the company, including roles as chair, president, and CEO [1][2] Leadership Transition - Andrew F. Walters, the current CEO, has been appointed as the new chair of the board effective February 1, 2026, with confidence in his ability to lead the company with stability and a long-term focus on customer service [3] Company Overview - H2O America is a national investor-owned network of local water and wastewater utilities, dedicated to delivering clean, high-quality water to communities [5] - The company operates approximately 407,000 water and wastewater service connections, investing in critical infrastructure to ensure sustainable water supply for future generations [6] - H2O America serves over 1.6 million people through its four regional water utilities: Connecticut Water, Maine Water, San Jose Water, and Texas Water [7]

Core Points - The California Public Utilities Commission (CPUC) has approved California Water Service (Cal Water) and three other utilities to delay their Cost of Capital applications from May 1, 2026, to May 1, 2027, maintaining a 10.27% return on equity (ROE) and 4.23% cost of debt for Cal Water [1] - Cal Water's capital structure consists of 53.40% common equity and 46.60% long-term debt, with an authorized rate of return set at 7.46% [1] - The CPUC has reauthorized the Water Cost of Capital Mechanism (WCCM), which adjusts the rate of return based on fluctuations in the Moody's Utilities Bond Index, with the next measurement date on September 30, 2026 [2] - Any changes to the ROE from the WCCM will take effect on January 1, 2027, if necessary [2] - The extension of the Cost of Capital proceeding is expected to alleviate workload for the CPUC, which is currently managing six water utility General Rate Cases and three ongoing rulemaking proceedings related to water [3] - This extension is also anticipated to reduce the frequency of rate changes for customers [3] - California Water Service Group operates several regulated utilities across multiple states, providing water and wastewater services to over 2.1 million people [3]

Core Insights - California Water Service Group reported strong financial results for Q3 2025, reflecting a focus on expense control, infrastructure investment, and customer service [1][3]. Financial Highlights - Q3 2025 net income was $61.2 million with diluted EPS of $1.03, consistent with Q3 2024 [7]. - Revenue for Q3 2025 increased by $11.6 million or 3.9% to $311.2 million compared to $299.6 million in Q3 2024 [8]. - Operating expenses in Q3 2025 rose by $7.8 million or 3.4% to $240.6 million compared to $232.8 million in Q3 2024 [8]. - Year-to-date (YTD) 2025 net income was $116.7 million or $1.96 per diluted share, a decrease of 31.8% compared to YTD 2024 [8]. - YTD 2025 revenue decreased by $34.4 million or 4.2% to $780.2 million compared to $814.6 million in 2024 [8]. Capital Investment and Financing - The company invested $135.2 million in water system infrastructure during Q3 2025, a 14.8% increase from Q3 2024 [7]. - As of September 30, 2025, cash and cash equivalents totaled $76.0 million, with an additional short-term borrowing capacity of $255.0 million [10]. - The company announced the sale of $170.0 million in Senior Unsecured Notes and $200.0 million in First Mortgage Bonds [11][12]. Regulatory Updates - Inflation-based interim rate increases for California Water Service are authorized effective January 1, 2026, until a final decision is issued in the 2024 General Rate Case [7][14]. - Hawaii Water Service received approval to increase annual revenues by $4.7 million in its Waikoloa systems [16]. Community Engagement and Recognition - The company opened its seventh annual Firefighter Grant Program to support local fire departments [19]. - Recognized among the "World's Most Trustworthy Companies" for the third consecutive year and certified as a Great Place To Work for ten consecutive years [20]. Dividend Information - The company declared its 323rd consecutive quarterly dividend of $0.30 per share, with a five-year compound annual dividend growth rate of 7.7% [7][21].

Core Points - California Water Service Group declared its 323rd consecutive quarterly dividend of $0.30 per common share, payable on November 21, 2025, to stockholders of record as of November 10, 2025 [1] Company Overview - California Water Service Group is the parent company of several regulated utilities, including California Water Service, Hawaii Water Service, New Mexico Water Service, Washington Water Service, and Texas Water Service, providing water and wastewater services to over 2.1 million people across these states [2]

Core Points - Hawaii Water Service has received approval to increase annual revenue by $4.7 million to support investments in water and wastewater systems, inflation, and operating costs [1] - The company has invested approximately $33 million in its Waikoloa systems since the last rate adjustment in 2019 [2] - The new rates, effective October 9, 2025, include a fixed charge for non-residential water system customers for conservation-related activities [3] Investment and Infrastructure - Almost $17 million has been allocated for improvements to drinking water wells and sewer pump stations, including backup power generators [5] - More than $8 million has been invested in transmission and distribution pipelines to reduce leaks and enhance reliability [5] - Nearly $8 million has been dedicated to water and wastewater treatment plant improvements to meet water quality standards and increase treatment capacity [5] Company Overview - California Water Service Group is the parent company of Hawaii Water Service and other regulated utilities, serving over 2.1 million people across multiple states [4]

Core Points - California Water Service Group will release its third-quarter earnings results for 2025 on October 30, 2025, at 9:00 a.m. ET, followed by a conference call at 11:00 a.m. ET [1] - The conference call will be hosted by key executives including Chairman and CEO Martin A. Kropelnicki, CFO James P. Lynch, and VP Greg A. Milleman [2] - The company provides regulated and non-regulated water and wastewater services to over 2 million people across multiple states [3] Company Information - California Water Service Group operates as a utility holding company with subsidiaries in California, Hawaii, New Mexico, Texas, and Washington [3] - The company's common stock is traded on the New York Stock Exchange under the symbol "CWT" [3] - Additional information about the company can be found on its official website [3]