Cash Dividend Increases Five Percent At Southwest Water Company.Business Editors WEST COVINA West Covina, city (1990 pop. 96,086), Los Angeles co., S Calif., in the San Gabriel valley; settled 1905, inc. 1923. Before World War II, West Covina was a small rural community where walnuts, wheat, and livestock were raised. , Calif.--(BUSINESS WIRE)--Nov. 30, 2001 Southwest Water Company (Nasdaq:SWWC SWWC Southwest Water Company SWWC So What Who Cares ) today announced a five percent increase in its quarterly cash dividend for common shares. The company's board of directors approved the increase at a regular meeting on Thursday, November 29, 2001. The cash dividend increase raises the common share dividend to $.056 per share. Anton C. Garnier, Southwest Water president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said, "The increase in the cash dividend demonstrates our directors' ongoing desire to continue to improve the value of our stockholders' investment." The board also declared a quarterly cash dividend of $.65625 per share of Series A preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . Both the common and the preferred share dividends are payable on January 18, 2002 to stockholders of record on December 31, 2001. Southwest Water Company provides a broad range of services, including water production and distribution, wastewater collection and treatment, public works public works pl.n. Construction projects, such as highways or dams, financed by public funds and constructed by a government for the benefit or use of the general public. Noun 1. services and utility submetering. The company owns regulated public utilities and also serves cities, utility districts and private companies under contract. More than 1.5 million people in 29 states from coast to coast depend on Southwest Water for high-quality, reliable service. |
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