CWT California Water Service Group

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934

 

Date of Report (date of earliest event reported): January 29, 2025

 

CALIFORNIA WATER SERVICE GROUP

(Exact name of Registrant as Specified in its Charter) 

 

Delaware (State or other jurisdiction of incorporation)

1-13883 (Commission file number)

77-0448994 (I.R.S. Employer Identification Number)

 

1720 North First Street San Jose, California (Address of principal executive offices)

95112 (Zip Code)

 

(408) 367-8200

(Registrant’s telephone number, including area code)

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Shares, par value $0.01		CWT		New York Stock Exchange

 

 

Indicate by check mark whether the registrant is an emerging growth company as defined by Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

Item 8.01.

Other Events

 

On January 29, 2025, California Water Service Group issued a press release (a copy of which is attached hereto as Exhibit 99.1 and incorporated herein by reference) announcing the declaration of a quarterly dividend of $0.30 per common share and a one-time special dividend of $0.04 per common share. Both the quarterly dividend and one-time special dividend will be payable on February 21, 2025 to stockholders of record as of the close of business on February 10, 2025.

 

Item 9.01.

Financial Statements and Exhibits.

 

(d) Exhibits.

 

We hereby file the following exhibit with this report:

 

Exhibit No.		Description
99.1		Press Release issued January 29, 2025
104		Cover Page Interactive Date File (embedded within the Inline XBRL document)

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	CALIFORNIA WATER SERVICE GROUP
Date: January 29, 2025	By:	/s/ James P. Lynch
	Name:	James P. Lynch
	Title:	Senior Vice President, Chief Financial Officer and Treasurer

 

 

 

Exhibit 99.1

 

 

January 29, 2025

For immediate release

 

 

California Water Service Group Board of Directors Declares 320th
Consecutive Quarterly Dividend and Announces

One-Time Special Dividend

 

 

SAN JOSE, Calif., January 29, 2025 —At its meeting on January 29, 2025, the California Water Service Group (NYSE: CWT) (Company) Board of Directors (Board) declared the company's 320th consecutive quarterly dividend in the amount of $0.30 per common share, this reflects an $0.08 annual increase that is expected to yield an annual dividend of $1.20. In addition, the Board declared a one-time special dividend in the amount of $0.04 per common share. Both the quarterly dividend and the special one-time dividend will be payable on February 21, 2025, to stockholders of record as of the close of business on February 10, 2025.

 

“We are pleased to be in a position to increase our annual dividend for the 58^th consecutive year. Furthermore, we believe that a special, one-time dividend of $0.04 per share is appropriate given our decision to moderate our 2023 annual dividend due to the delay in our 2021 General Rate Case. We believe our 2025 anticipated annual dividend will bring us in line with market expectations, and we remain committed to providing value to all of our stakeholders."

 

 

 

About California Water Service Group

 

California Water Service Group is the parent company of regulated utilities California Water Service, Hawaii Water Service, New Mexico Water Service, and Washington Water Service, as well as Texas Water Service, a utility holding company. Together, these companies provide regulated and non-regulated water and wastewater service to more than 2.1 million people in California, Hawaii, New Mexico, Washington, and Texas. California Water Service Group’s common stock trades on the New York Stock Exchange under the symbol “CWT.” Additional information is available online at www.calwatergroup.com.

 

Forward Looking Statements

 

This news release contains forward-looking statements within the meaning established by the Private Securities Litigation Reform Act of 1995 (“PSLRA”). The forward-looking statements are intended to qualify under provisions of the federal securities laws for “safe harbor” treatment established by the PSLRA. Forward-looking statements in this news release are based on currently available information, expectations, estimates, assumptions and projections, and our management’s beliefs, assumptions, judgments and expectations about us, the water utility industry and general economic conditions. These statements are not statements of historical fact. When used in our documents, statements that are not historical in nature, including words like will, would, expects, intends, plans, believes, may, could, estimates, assumes, anticipates, projects, progress, predicts, hopes, targets, forecasts, should, seeks or variations of these words or similar expressions are intended to identify forward-looking statements. Forward-looking statements are not guarantees of future performance. They are based on numerous assumptions that we believe are reasonable, but they are open to a wide range of uncertainties and business risks. Consequently, actual results may vary materially from what is contained in a forward-looking statement. Factors that may cause actual results to be different than those expected or anticipated include but are not limited to those described under the section entitled “Risk Factors” in our most recent Annual Report on Form 10-K, as such factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission. In light of these risks, uncertainties and assumptions, investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this news release. We are not under any obligation, and we expressly disclaim any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.

 

# # #

 

Contact

 

James P. Lynch

408-367-8200

 

Shannon Dean

sdean@calwater.com

408-367-8243

 

 

v3.24.4

Cover	Jan. 29, 2025
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Jan. 29, 2025
Entity File Number	1-13883
Entity Registrant Name	CALIFORNIA WATER SERVICE GROUP
Entity Central Index Key	0001035201
Entity Tax Identification Number	77-0448994
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	1720 North First Street
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95112
City Area Code	408
Local Phone Number	367-8200
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Shares, par value $0.01
Trading Symbol	CWT
Security Exchange Name	NYSE
Entity Emerging Growth Company	false

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