Pennichuck Announces First Quarter 2005 Common Dividend and Annual Meeting Date.NASHUA, N.H. -- In accordance with the Company's long-standing dividend history, Donald L. Correll, President and Chief Executive Officer of Pennichuck Corporation, announced today that the Company's Board of Directors had declared a quarterly dividend of $.215 per share payable on March 1, 2005 to shareholders of record as of February 15, 2005. This quarterly dividend remains unchanged from the previous quarter and results in an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. dividend rate of $.86 per share. Mr. Correll also noted that the Company's next dividend reinvestment date Reinvestment date The date on which an investment's dividend or capital gains income is reinvested, if requested by the shareholder, to purchase additional shares. Also known as the ex-dividend date. under the Company's Common Stock Purchase and Dividend Reinvestment Plan Dividend Reinvestment Plan (DRP) Plan which provides for automatic reinvestment of shareholder dividends in more shares of a company's stock, often without commissions. Some plans provide for the purchase of additional shares at a discount to market price. is March 1, 2005. Shareholders wishing to purchase additional shares under that plan should ensure that their payment is received by the Company's transfer agent no later than February 25, 2005. Mr. Correll also stated that the Company's annual meeting of shareholders will be held at 9:00 am on Thursday, May 5, 2005 at the Nashua Marriott Hotel. The Board of Directors has fixed the close of business on March 24, 2005 as the record date for the determination of shareholders entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to notice of, and to vote at, the annual meeting. Pennichuck Corporation, a New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). corporation, is a holding company whose operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. are involved in diversified activities such as water supply and distribution, operations and maintenance contracts, laboratory testing and real estate development and management. Pennichuck is traded on the Nasdaq National Market System under the symbol "PNNW". |
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