Aquarion Increases Quarterly Dividend.BRIDGEPORT, Conn.--(BUSINESS WIRE)--Sept. 21, 1999-- The Board of Directors of Aquarion Company (NYSE NYSE See: New York Stock Exchange :WTR WTR Water WTR Writer WTR Wait To Restore WTR Wireless Technology Research WTR Walker, Texas Ranger (TV show) WTR Western Test Range WTR With-The-Rule Astigmatism WTR Working Time Regulation (UK) ) today voted to increase the quarterly cash dividend on the company's common stock. The new dividend will be 28 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , up from 27.75 cents per share paid in the second quarter of 1999. The new dividend rate is equivalent to $1.12 per share on an annual basis, compared with a 1998 annual rate of $1.11 per share. "Today's action is consistent with the board's practice of increasing the dividend annually for the previous two years," said Richard K. Schmidt, president and chief executive officer. The dividend is payable October 29, 1999 to shareholders of record on October 8, 1999. It also continues the company's record of uninterrupted dividend payments since 1890. Aquarion Company's principal business is public water supply. Through its BHC BHC benzene hexachloride. BHC, ?-BHC see benzene hexachloride. and Sea Cliff Water Company subsidiaries, it is one of the 10 largest investor-owned water utilities in the U.S. and serves a population of more than 500,000 in 30 Connecticut Connecticut, state, United States Connecticut (kənĕt`ĭkət), southernmost of the New England states of the NE United States. It is bordered by Massachusetts (N), Rhode Island (E), Long Island Sound (S), and New York (W). and Long Island, NY communities. Other businesses include real estate through the sale of surplus water company land, and contract management of municipal water systems. Aquarion also owns a small timber processing company. Note to Reporters and Editors: For more information on Aquarion Company and its subsidiaries, please contact us on the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the at www.aquarion.com or www.bhcco.com. |
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