American Water Works Company Amends Dividend Reinvestment and Stock Purchase Plan.VOORHEES, N.J.--(BUSINESS WIRE)--April 16, 1998--American Water Works Company (NYSE NYSE See: New York Stock Exchange :AWK (Aho Weinberger Kernighan) A Unix programming utility developed in 1977 by Alfred Aho, Peter Weinberger and Brian Kernighan. Due to its unique pattern-matching syntax, awk is often used in data retrieval and data transformation. ) has announced that purchases of American Water Works Company common stock made through the company's Dividend Reinvestment Reinvestment Using dividends, interest and capital gains earned in an investment or mutual fund to purchase additional shares or units, rather than receiving the distributions in cash. 1. In terms of stocks, it is the reinvestment of dividends to purchase additional shares. and Stock Purchase Plan ("Plan") will now be priced at a 2 percent discount. Effective May 15, 1998, the Plan will feature a 2 percent discount to be applied to common shares purchased through the reinvestment of dividends paid on the company's common, preferred and preference stocks, as well as to any optional cash investments made by stockholders. The 2 percent discount will also be applicable to initial cash investments made by customers of the company's utility subsidiaries. "The Plan provides company stockholders a simple, convenient and economical way to accumulate and increase their investment in American Water Works Company and to reinvest re·in·vest tr.v. re·in·vest·ed, re·in·vest·ing, re·in·vests To invest (capital or earnings) again, especially to invest (income from securities or funds) in additional shares. all or a portion of their cash dividends in additional shares of the company's common stock -- all at a 2 percent discount from the applicable average market price," explained Marilyn Ware Marilyn Ware is the current U.S. ambassador to Finland. George W. Bush nominated her to this post on 27 October 2005. She has no previous diplomatic experience but has done extensive fund raising for Republican causes. Lewis, chairman of American Water Works Company. In addition to the newly implemented 2 percent discount, shares purchased through the Plan are free of brokerage fees, commissions and service charges. Stockholders enrolled in the existing Plan will be automatically enrolled in the amended Plan. A new prospectus, dated April 16, 1998, providing additional details concerning the 2 percent discount and other changes to the Plan, can be obtained from the plan administrator: BankBoston N.A., c/o Boston EquiServe, L.P., at 800/736-3001 or 781/575-3100. American Water Works Company Inc. is the largest investor-owned water utility business in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Through its 23 utility subsidiaries, American Water Works serves more than 7 million people in over 860 communities in 22 states. CONTACT: American Water Works Thomas G. McKitrick, VP - Investor Relations Investor relations The process by which the corporation communicates with its investors. 609/346-8200 |
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